- Thirty of top 200 on SRA list are financially unstable
Around 30 of the top 200 law firms in England and Wales are under intensive supervision from the Solicitors Regulation Authority (SRA) because of fears about their financial stability, it emerged yesterday.
The board of the SRA heard that...
- Casewise to highlight compliance opportunities at legal breakfast briefing
Casewise, the leading international provider of enterprise business architecture, business process analysis and business process management solutions, is set to host an exclusive Legal Breakfast Briefing for senior law firm decision makers....
- The real cost of intervention by the SRA
What is the profession to do about the escalating costs of intervention in firms that either have already failed or are failing fast?
The introduction of the new outcome focused regulation rules has fundamentally changed the Code of...
- Risk management - the basic principles
What does risk management actually involve?
In the context of a typical law firm, risk is something that all lawyers know when they see it. They are usually client and matter specific and might take the form of:...
- SRA: we expect more large law firms to go under
More large law firms are expected to fail over next few years and the risk of theft of client funds is rising, the Solicitors Regulation Authority (SRA) has warned.
It has also speculated that in future professional indemnity insurance or...
- SRA chief to step down
The SRA confirmed that Townsend’s successor has not been appointed and that the selection process to find his successor has not yet begun.
In a statement Townsend said: “I’ve headed up the SRA from its inception. The pace...
- SRA object to proposed 'growth duty'
Government plans to subject regulators to a duty to have regard to growth could lead to challenges of any decision to refuse approval of a new law firm or alternative business structure, the Solicitors Regulation Authority (SRA) has warned....
- SRA set to relax rules on non-material breaches
Requiring all 10,000 law firms to report non-material breaches to the Solicitors Regulation Authority (SRA) is “unsustainable and cannot be justified”, the regulator’s board will be told today.
However, this next step in...
- Understanding regulatory risk
The Regulatory Framework
For compliance officers to understand their regulatory obligations under OFR it is important for them to understand that the SRA themselves operate within a risk management framework and that the...
- Paralegals shown to be as competent as trainees
Paralegals have the same level of competence as final-seat trainees, a work-based learning pilot from the Solicitors Regulation Authority (SRA) has found.
A work-based learning pilot by Nottingham Trent University, which...
- SRA identifies firms in major financial difficulty
Samantha Barrass, SRA executive director, has said the regulator has identified around 150 firms "experiencing very significant financial difficulty".
Speaking at the Managing Partner COLP and COFA conference in London this...
- Legal Services Board to keep up pressure on SRA over ABS licences
The Legal Services Board (LSB) is to keep the performance of the Solicitors Regulation Authority in issuing alternative business structure (ABS) licences under scrutiny, it has emerged.
Papers just released by the LSB show that in January...
- Cases of COLP and COFA failures rise
The total number of firms and individuals in trouble with the Solicitors Regulation Authority (SRA) over nominations for compliance officers has risen by a third in the past month to nearly 800, it has emerged.
Meanwhile, 21 firms are to...
- Legal Services Board pledges to work better with regulators
LSB responds to accusations from industry regulators of micro-management and overstepping its remit
The Legal Services Board (LSB) has restated its intention to work better with industry regulators following a series of...