News releases

Six firms sign up for third wave of relationship management pilot

The Solicitors Regulation Authority (SRA) has announced that a further six law firms are to take part in the third wave of its relationship management (RM) pilot in preparation for the introduction of outcomes-focused regulation in October, taking the total number of firms now involved to 19.

The firms selected include

  • two virtual firms with significantly different business models,
  • an innovative incorporated legal practice specialising in work for the lending sector,
  • a large city-based firm with a financial services and commercial focus,
  • a fast-growing national full-service firm, and
  • a fast-growing international firm.

Over the coming months the SRA's dedicated RM team will be working with all 19 pilot firms, ranging from a global practice to a sole practitioner, to establish how the proposed new model of supervision will work in practice.

The SRA is holding a webinar on 21 February 2011 to report on the progress of the pilot, with a particular focus on smaller firms. A recording of the webinar will be available after the event. Visit www.sra.org.uk/webinars.

For more information about the relationship management pilot, visit www.sra.org.uk/RM-pilot.

 

Note to editors

Outcomes-focused regulation will see the detailed and prescriptive rulebook replaced with a targeted, risk-based approach concentrating on the standards of service to consumers. For more information, visit www.sra.org.uk/freedominpractice.
Print page to PDF