The Solicitors Regulation Authority (SRA) Handbook is being replaced by the Standards and Regulations from 25 November, changing the way that the profession is governed.
The new regulations are shorter than the existing Handbook and many prescriptive rules will be removed.
Major changes that you need to be aware of include:
- the creation of two separate codes of conduct, for firms and for solicitors
- requiring all regulated firms that run a website to use the SRA Digital Badge
- a simplified set of Accounts Rules that focus on the principles of keeping client money safe rather than specific and prescriptive technical rules
- allowing solicitors to provide reserved legal services on a freelance basis (though restrictions on holding client money should exclude freelancers from conveyancing work)
- allowing solicitors to carry out ‘non-reserved’ legal work from within a business not regulated by a legal services regulator
We have a range of resources including webinars and forums to help you and your firm comply with the new regulatory framework.