News Release

SRA's latest Business Plan continues good work

We have today published our latest Business Plan, setting out how we will build upon the progress made in the last 12 months.

The plan, approved by the SRA Board, includes details on the review of our regulatory approach and Handbook, progressing work on the holding of client money, and developing assessments for solicitors and entrants into the profession. We will also monitor the impact of the changes it makes and review the fees we charge as well as the levies we make for practising certificates.

We will continue to engage with the profession, consumers and other key partners. The Business Plan itself will be under constant review, allowing us to adapt over the next 12 months in response to any changes in the sector.

Richard Collins, SRA Executive Director for Strategic Planning and Performance, said: "Last week, we set out our vision of the future, and how we will reform our approach to regulation over the coming 18 months, helping law firms and protecting the public. The Business Plan completes the picture in terms of our continuing improvement, setting out exactly what we will do to be an ever more efficient and effective organisation."

Other actions in the Business Plan 2015/16 include:

  • Producing clearer guidance for decision making
  • Implementing the Quality Assurance Scheme for Advocates
  • Delivering changes for consumer credit regulation
  • Requiring solicitors to move to the new regime of continuing competence

The plan outlines what we currently propose to do in the business year 2015/16 to continue work on achieving the aims of the Corporate Strategy, which was launched last year. The Corporate Strategy sets out our commitment to transparency and openness, key operational and regulatory reform and to working with the profession and all stakeholders to improve standards and uphold key professional principles.

The Corporate Strategy can be accessed here:

Go to the strategy

Its key aims are to:

  • reform regulation to enable growth and innovation in the market and to strike the right balance between reducing regulatory burdens and ensuring consumer protection
  • work with solicitors and firms to improve standards and uphold core professional principles
  • improve operational performance and make fair and justifiable decisions promptly, effectively and efficiently
  • work with stakeholders to improve the quality of services and stakeholder experience of using them

Business plans detail exactly how we will go about achieving the aims of the strategy. This year's Business Plan can be found here:

Go to the plan

 
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