News releases

The Solicitors Regulation Authority (SRA) sets out plans for next three years

The Solicitors Regulation Authority (SRA) is to announce its future priorities, and will be publishing its model for assessing risks to its regulatory objectives, at a free event being held for stakeholders in central Birmingham today (Friday 14 December).

Over 120 delegates are expected to attend the conference - Driving forward regulatory change: the next three years – to hear presentations on the regulator's Strategic Plan covering the period 2013-15, its Risk Framework, and the launch of two new consultations.

The event will provide an insight into the SRA's strategic thinking, including future challenges and priorities. The session on the SRA's risk-based approach to regulation will provide a clear overview of how the SRA intends delivering risk-based outcomes-focused regulation (OFR) effectively and efficiently.

The first consultation – the ‘Red Tape Initiative' follows the confirmation of the SRA's commitment to delivering targeted and proportionate regulation at the official opening of its new headquarters at The Cube last month. The SRA is seeking feedback on how firms and the SRA can maximise the benefits of OFR by removing unnecessary rules and processes which may have carried through from the old, rules-based approach to regulation but which are no longer necessary.

The second consultation contains proposals on amendments to the Handbook relating to regulation of international practices of SRA regulated firms and the Green Paper consultation held earlier this year.

Richard Collins, SRA Executive Director, said: "The Strategic Plan sets out the SRA's priorities for the next three years, and provides a clear programme for the completion of the transformation of the SRA into a modern risk-based and outcomes-focused regulator.

In addition, we are using the event to launch two new important consultations. The Red Tape Initiative considers how to achieve the maximum benefits from OFR by removing unnecessary rules and processes which both hampers us and the profession from operating efficiently; and the second contains proposals on how we intend to regulate international practices and the consequential Handbook changes required. We want to encourage as much feedback as possible on both these areas.”

All documents will be available on the SRA's website from noon on 14 December 2012:-

The Strategic Plan 2013-15 

The Risk Framework 

The Red Tape Initiative and

The amendments to the Handbook relating to the regulation of international practice

Print page to PDF