Press release archive for 2023
Diversity within law firms is continuing to slowly improve year-on-year, with smaller firms more diverse than larger ones.
We will not be imposing an overall cap on claims against the compensation fund arising from Axiom Ince. And those claims will be prioritised to make sure that the most pressing – such as for domestic conveyancing – will be dealt with first in order to maintain the financial solvency of the fund.Report looks at pros and cons of AI in law firms, 20 November 2023
The opportunities – and risks – presented by artificial intelligence (AI) are outlined in a new report.SRA issues first fixed penalties, 16 November 2023
We have published details of the first fixed penalties we have issued since introducing the new fixed financial penalty regime.Axiom Ince intervention and impacts, 14 November 2023
There has been widespread attention following our decision to intervene into Axiom Ince and the potential impacts for the public and the profession.
New rules requiring law firms to proactively publish key price and service information are having a positive effect, a new report has found.Firms have more to do to identify and manage money laundering risks, 19 October 2023
Solicitor firms have been warned that they need to do more to properly assess any money laundering risks posed by clients and the services they are seeking.Axiom Ince intervention statement, 03 October 2023
We have intervened into Axiom Ince at various addresses. This to protect the interests of clients and former clients of the firm.SRA now managing the Solicitors Indemnity Fund, 02 October 2023
The Solicitors Regulation Authority has now taken over management of the Solicitors Indemnity Fund (SIF).
We have issued a warning notice to solicitors and law firms reminding them of the rules and requirements they must adhere to when providing immigration services to clients.Research into what drives PII premiums published, 14 September 2023
We and the Legal Services Board (LSB) have published joint research looking into the professional indemnity insurance (PII) for law firms, and what factors drive differences in premium levels.Polo appointed to manage SIF claims , 11 September 2023
Our Board has named its expert delivery partner for managing the Solicitors Indemnity Fund (SIF).
We are consulting on potential changes to its regulatory arrangements to include authorised members of the Chartered Institute of Legal Executives (CILEX). This follows a CILEX consultation launched earlier this month on proposals to re-delegate the regulation of its members to us.Report into how law firms prepare NDAs published, 14 August 2023
News release: A report into how non-disclosure agreements (NDAs) are prepared between employers and their staff, and the role of law firms in drafting and agreeing these has been published.
We have closed down three solicitor firms that were named in a Daily Mail undercover operation involving immigration services.SRA publishes latest suite of annual reports, 20 July 2023
We have published our latest annual corporate reports for 2021/22 covering education and training, enforcement, approval of new firms and solicitors, and the compensation fund.
The first part of ongoing research into why those from Black, Asian and minority ethnic backgrounds are overrepresented in reports to, and resulting investigations by, the SRA.Consumers and law firms find reviews helpful but more to do to enable easier comparisons, 19 June 2023
Public finds customer reviews and comparison websites helpful but barriers remain to making factual information on legal services and performance more readily available.Unbundling could improve access to legal services, 15 June 2023
SRA research shows that unbundled legal services could make legal help more affordable for those on low incomes and law firms could increase their client base.More information on protection levels would help small business consumers when buying unreserved services, 13 June 2023
Better access to information on the different levels of protection offered by different providers would help consumers when choosing between regulated and unregulated organisations.Literature review looks at factors influencing the outcomes for Black, Asian and minority ethnic candidates in professional assessments, 02 June 2023
News release: We have commissioned the University of Exeter's Schools of Law and Business to look at what causes different levels of attainment for ethnic groups in professional assessments.
We have launched a consultation on our proposed Corporate Strategy for 2023–2026.Law firms issued guidance on new wellbeing at work rules, 02 May 2023
We have issued updated guidance to help law firms and those who work for them understand what new rules on health and wellbeing in the workplace mean for them.
We are consulting on new rules that will restrict excessive fee-charging when firms make compensation claims on behalf of their clients for mis-sold financial products.One year review of SQE shows good progress, 16 March 2023
A suite of reports reviewing the first year of the Solicitors Qualifying Examination (SQE) has shown that overall implementation of the new assessment has gone well.In-house solicitors’ independence valued, but minority struggle, 14 March 2023
Most solicitors working in-house feel their independence is valued although a minority struggle to balance their duties with their organisation’s priorities, a new SRA report has found.More case studies added on banking facilities rule, 02 March 2023
We have added further case studies to those published online to help firms remain compliant with the rule prohibiting use of the client account as a banking facility.
We have been recognised for our commitment to supporting LGBTQ+ staff and customers after being named in top 25 on Stonewall’s Top 100 Employers list for 2023.SRA confirms updated approach to fines and publishing decisions, 15 February 2023
Following public consultation, we have confirmed the detail of changes for how we levy financial penalties to law firms and solicitors.SRA Board finalises rules for post six-year client protection, 15 February 2023
Our Board has agreed the final rules which will bring the Solicitors Indemnity Fund (SIF) under our control to ensure future consumer protection for post six-year negligence claims.Review shows law firms need to do more on SLAPPs, 14 February 2023
A review shows that some law firms need to do more to guard against the risk of strategic lawsuits against public participation (SLAPPs) and other types of abusive litigation.Apprentices perform well on new solicitors' exam, 09 February 2023
As part of National Apprenticeship Week, we have announced that apprentices are outperforming other candidates seeking to qualify as solicitors.Risks and opportunities of crypto technologies, 02 February 2023
The risks and opportunities for the legal services sector from developing crypto technologies -outlined in a new SRA report.
Staying up to date and competent throughout a solicitor's career is an important part of providing high quality legal services to those who need them - and we will take action to ensure solicitors comply with their responsibilities.Closure of Metamorph Group law firms, 12 January 2023
We have closed down a number of law firms that were part of the Metamorph Group to protect the interests of current and former clients.SRA appoints Aileen Armstrong as Executive Director, 09 January 2023
We have appointed Aileen Armstrong as Executive Director Strategy and Innovation who takes up the post in mid-June.