SRA Update

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Issue 18 – April 2011

SRA Update brings you the latest information about the work of the Solicitors Regulation Authority. It includes important news for solicitors and others working in legal services.

All change: New Handbook launched

Today sees the publication online of the new Handbook, including the new Code of Conduct. The Code comes into force on 6 October, when outcomes-focused regulation is introduced.

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ABS licence application approved by Law Society

The Law Society Council approved our application to become a Licensing Authority (LA) for alternative business structures (ABS) at its meeting on 23 March 2011. The application has now been submitted to the Legal Services Board for approval. We expect to be granted LA status in August at which time we will be able to accept formal applications from organisations wishing to become ABS. Licences can be granted from 6 October 2011. Only when licensed will ABS be legally allowed to operate.

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Proposed 2011 fee structure

You can expect to be paying fees on the same basis as last year, when we made significant changes—and in addition this year you will have the option of renewing online. You also have the chance to comment on our proposals for ABS fees set out in our consultation.

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Case study: Take care not to damage public confidence

Behaviour within or outside practice which undermines public confidence damages not only any individual involved but also the ability of the legal profession as whole to serve society. Such were the circumstances surrounding a solicitor sentenced to 33 months' imprisonment for harbouring an escaped prisoner and possessing a Class A controlled drug with intent to supply heroin.

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Question of ethics: What happens if my bank moves to Scotland?

Question: My bank, which is based in Scotland, has informed me that it is closing all of its branches in England and Wales and that my account will be transferred to Scotland. I am aware that the Solicitors' Accounts Rules require our client account to be held in England and Wales. What should I do?

Find out the answer

In brief: SRA praised; visit our roadshows; turnover validation; keeping of the roll update

Catch up on news about a crooked solicitor jailed for money laundering; our countrywide roadshow programme; this year's turnover validation exercise, and the keeping of the roll changes.

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Your views count: Current consultations

Alternative business structures fee structure

Start – 17 March 2011
End – 29 April 2011

Equality Framework and Engagement Strategy for 2011/12

Start – 8 March 2011
End – 8 June 2011

To find out more, visit www.sra.org.uk/consultations.

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