Risk publications

Maintaining standards of service and reducing complaints

01 July 2019

This report looks at how our new Continuing Competency regime has been adopted by law firms. It is part of an on-going process to make sure all solicitors we regulate continue to keep their competencies up to date and thus provide a proper standard of service.

Technology and legal services

11 December 2018

Technology can help law firms offer services that are more efficient, productive, and accurate. But the legal market faces challenges in realising these benefits.

Balancing duties in litigation

27 November 2018

This report discusses the differing duties owed in litigation, and examines the ways in which misconduct can arise. By bringing together examples of the challenges solicitors face when balancing these duties.

The business case for diversity

08 February 2018

This paper is about the business benefits of a diverse and inclusive legal profession. It provides practical examples of the actions firms can take and what we are doing to support firms.

Improving access - tackling unmet legal needs

26 June 2017

This paper sets out why access to legal services is a risk and the current barriers that people and small businesses face and highlights actions that firms are taking to improve access.

IT Security: Keeping information and money safe

29 November 2016

This report highlights the ever growing risk of cybercrime. We all need information technology, so we all need to be aware of the threats.

Solicitors and investment fraud

29 November 2016

This report is about the risk to the public, and indeed to the reputation of the profession, caused by the small number of solicitors who become involved in helping investment schemes that may well be frauds.

Exiting the EU: An update for lawyers

06 September 2016

This report sets out some of the issues we are considering and monitoring closely. It is the first in what is likely to be a series of updates in which we will provide you with the latest information and practical advice.

Providing services to people who are vulnerable

09 March 2016

This report brings together a range of resources, information and case studies for solicitors and law firms about providing services to people who are vulnerable. It includes an overview of how regulation and legislation apply when a legal services client is vulnerable.

IT and innovation

09 March 2016

This report highlights how we are committed to helping solicitors and law firms develop their businesses in new ways. An innovative legal sector is essential for delivering the efficient, affordable services the public needs.

Regulating small firms

23 November 2015

This guide offers you information on issues specific to smaller businesses, including, new regulatory developments and how these can benefit small firms and updates on the key regulatory issues affecting small firms.

Cleaning up: Law firms and the risk of money laundering

15 November 2014

This report brings together and summarises information from other sources, which are referenced throughout the report, and can be used as a starting point when considering the risk of money laundering.

In the shadows: Risks associated with bogus firms

08 November 2014

This paper highlights the risks posed by individuals that operate through bogus law firms or by illegally presenting themselves as solicitors.

Magnetic forces: Consolidation in the legal services market

12 March 2014

The purpose of this paper is to highlight a current risk in the legal services sector and support law firms in taking appropriate actions to protect against the risk to themselves, their clients and the wider public interest.

Steering the course: Research into the characteristics and risks associated with law firms in financial difficulty

12 February 2014

This research explores the related issues of profile, prevalence and impact of financial difficulty in law firms by reviewing our experience of regulating firms in this situation. The research centred on file reviews of 76 firms that we have worked with in relation to financial difficulty.

Navigating stormy seas: Financial difficulty in law firms

03 November 2013

Financial difficulty was identified as a significant current risk to the regulatory objectives in the SRA's Risk Outlook. This paper sets out the approach we have taken to dealing with this risk amongst the firms we regulate and highlights key lessons learnt from this experience.

Catching a chill: law firms and risks of group contagion

03 November 2013

Group contagion is a risk that is relatively new to the legal services market, but is one that is well-known from other markets. Firms that are part of a group will need to control their exposure to this risk.