SRA Update

Welcome to the July edition of SRA Update. Despite the imminent arrival of the holiday season, it’s still a busy time with lots going on. The Ministry of Justice has agreed to an increase in our fining powers, a move that should make sure cases can be resolved much more quickly - reducing costs and stress for all involved. We have also put in place measures to extend the use of the Solicitors Indemnity Fund (SIF) for post six-year run-off cover for a further 12 months. This will allow us to further explore options on the back of our consultation at the turn of the year. And talking of your views, we would like to know what you think about our approach to publicising disciplinary decisions, risks on the horizon and PII premiums. You can find out how in this issue too.

Paul Philip

Chief Executive

Welcome to the Compliance News section of the latest issue of SRA Update. In this edition, you can find out about our new guidance on working for vulnerable clients, while those of you involved in lobbying can catch up with the latest developments on the Registrar’s rules. We have also earmarked the date for this year’s compliance officers conference, so make sure you save it in your calendar. This issue also carries our quarterly look at anti-money laundering, and that includes HM Treasury approving the UK-wide guidance for the latest regulations.


Paul Philip

Chief Executive

Focus on AML