All change for in-house?

All change for in-house?

The Solicitors Regulation Authority (SRA) has set out its plans for a wide-ranging programme of work to improve the regulation of solicitors and firms. In its policy statement, “Approach to Regulation and its Reforms”, the SRA declares its intention to:

  1. remove unnecessary regulatory barriers and restrictions to enable increased competition, innovation and growth to better serve the consumers of legal services;
  2. reduce unnecessary regulatory burdens and cost on regulated firms; and
  3. ensure that regulation is properly targeted and proportionate for all solicitors and regulated businesses, particularly small businesses.

What is the SRA proposing?

In short, the changes are intended to reduce red tape to improve external competition and internal efficiency in setting up and running ABS businesses. This includes proposing a series of fundamental revisions to the methods/systems for educating, training and developing solicitors through the Training for Tomorrow programme; seeking to revise the regulatory framework and their approach to enable increased entry of multi-disciplinary ABSs to the market; measures intended to reduce “unnecessary regulatory barriers and restrictions” so that there is “increased competition, innovation and growth”; and an aim to reduce “unnecessary regulatory burdens and cost on regulated firms” and make the burden proportionate to the size of the business.

Overall the changes are well-intentioned, but there is a real scepticism among the in-house legal community over whether these changes

Subscription Form

Related Articles:
Latest Articles:

Already a subscriber? Login
RELX (UK) Limited, trading as LexisNexis, and our LexisNexis Legal & Professional group companies will contact you to confirm your email address. You can manage your communication preferences via our Preference Centre. You can learn more about how we handle your personal data and your rights by reviewing our  Privacy Policy.

Access this article and thousands of others like it free by subscribing to our blog.

Read full article

Already a subscriber? Login

About the author: