The Solicitors Regulation Authority has announced today that the new Standards and Regulations will come into force on 25 November 2019. This gives firms extra time to get ready, as the implementation date was previously anticipated to be in the summer. However, these are significant changes that will require careful reflection on the firm's client base, work type and risk profile to ensure compliance.
To find out more:
- Read Goodbye SRA Handbook, hello Standards and Regulations for a brief overview of the changes
- Attend our SRA Handbook: Are You Ready for the Changes? course taking place around the country between now and the autumn. Led by compliance experts Matt Moore and Tracey Calvert, it's a great way to get up to speed on the changes and start considering your firm's approach
Key changes being introduced include: Creating separate codes of conduct for firms and solicitors Simpler Account Rules that focus on the principles of keeping client money safe rather than lots of specific technical rules Freeing up solicitors to carry out ‘non-reserved’ legal work from within a business not regulated by a legal services regulator Allowing solicitors to provide reserved legal services on a freelance basis