Looking to the future—what to expect following the LSB’s decision on reform of the SRA Handbook—law firms [Archived]

The following Practice Compliance practice note provides comprehensive and up to date legal information covering:

  • Looking to the future—what to expect following the LSB’s decision on reform of the SRA Handbook—law firms [Archived]
  • The SRA Standards and Regulations
  • What’s in the SRA Standards and Regulations
  • What the LSB decided
  • What’s not in the draft submitted to the LSB
  • Key changes
  • Slimmed down Principles
  • Code of Conduct split in two
  • No more Outcomes or Indicative Behaviours
  • Practising framework changes
  • More...

Looking to the future—what to expect following the LSB’s decision on reform of the SRA Handbook—law firms [Archived]

The Solicitors Regulation Authority (SRA) has wanted to restructure the regulatory structure applying to the solicitors and law firms it regulates for a long time. From June 2016 onwards, it launched a series of consultations under the banner ‘Looking to the Future’, with a view to 'radically' simplifying the SRA Handbook and making it shorter, clearer and easier to use.

Following a lengthy consultation process, the SRA’s proposals were submitted to the Legal Services Board (LSB) for approval in August 2018. The LSB has an initial period of 28 days to make a decision on rule changes submitted by legal services regulators. This initial period can be extended to 90 days upon issue of an extension notice. Unsurprisingly, the LSB extended its decision period to run until 5 November 2018. The LSB published its decision on 6 November 2018, approving the SRA’s proposals in full. The SRA announced on 20 March 2019 that the new Standards and Regulations would come into effect on 25 November 2019.

This Practice Note explains the position finally agreed by the LSB on reform of the SRA Handbook. It explains the background to the reforms, the key proposed changes, the guidance the SRA is planning to produce and the timeline for implementation of the

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