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.

The opportunities – and risks – presented by artificial intelligence (AI) are outlined in a new report.

We have published details of the first fixed penalties we have issued since introducing the new fixed financial penalty regime.

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.

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.

We have intervened into Axiom Ince at various addresses. This to protect the interests of clients and former clients of the firm.

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.

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.

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.

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.

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.

Public finds customer reviews and comparison websites helpful but barriers remain to making factual information on legal services and performance more readily available.

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.

Better access to information on the different levels of protection offered by different providers would help consumers when choosing between regulated and unregulated organisations.

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.

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.

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.

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.

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.

Following public consultation, we have confirmed the detail of changes for how we levy financial penalties to law firms and solicitors.

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.

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.

As part of National Apprenticeship Week, we have announced that apprentices are outperforming other candidates seeking to qualify as solicitors.

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.

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.

We have appointed Aileen Armstrong as Executive Director Strategy and Innovation who takes up the post in mid-June.