Press release archive for 2021

The majority of solicitors and law firms are positive about new codes of conduct and rules, with increasing numbers taking advantage of opportunities to work in new ways and deliver their services more flexibly.

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 are inviting views on options for the future of post six-year run-off insurance cover (PSYROC) and the Solicitors Indemnity Fund (SIF) in a consultation launched today.

News release: We have launched a consultation on our approach to financial penalties for law firms and solicitors where they fall short of the expected professional standards.

We have published our 2021-22 business plan, outlining our key areas of work for the coming year.

A new clause making it clear what cover will be provided for cyber losses will be added to the minimum terms and conditions of law firms’ professional indemnity insurance (PII) policies.

Work carried out to make sure solicitors keep criminals from using the profession to launder money has been detailed in a new review.

More than a thousand people have signed up to take the first ever Solicitors Qualifying Examination (SQE) assessment in November.

Mae'r Awdurdod Rheoleiddio Cyfreithwyr (SRA) wedi lansio ymgyrch i recriwtio dau gyfreithiwr newydd yn aelodau o'r Bwrdd.

We have launched a campaign to recruit two new solicitor members to our Board.

We have won a further grant from the latest round of Regulators Pioneer Fund (RPF) to help connect those using new legal technologies with those who need their services. We have won a further grant from the latest round of Regulators Pioneer Fund (RPF) to help connect those using new legal technologies with those who need their services.

Solicitors have just over month to check the latest HM Treasury Consolidated List of asset freeze targets to make sure they are not holding monies belonging to a client that is subject to financial sanctions.

Individual practising fee levels for 2021/22 are to fall, the Legal Services Board (LSB) has agreed.

A major independent study into innovation in the legal sector has revealed that while the majority of law firms are making increasing use of day-to-day technology, the development of bespoke legal technology is largely focussed on advances which will benefit larger corporate clients.

We have today published our annual reports on our operational work during 2019/20. The reports cover areas such as education and training, preventing money laundering, authorisation and enforcement.

We have launched a discussion paper setting out our approach and looking at whether our new rules should be closely aligned to the proposals of the Financial Conduct Authority (FCA), which regulates the vast majority of this sector.

Law firms have been invited to join a pilot exercise that is helping develop meaningful quality indicators which can help potential clients choose their legal service provider.

We have decided to extend the Solicitors Indemnity Fund (SIF) by a further year in order to allow consultation on the future of post six-year run-off cover.

Mae'r Awdurdod Rheoleiddio Cyfreithwyr (SRA) wedi cynyddu ei ymwneud â’r sector cyfreithiol yng Nghymru drwy benodi ei Bennaeth Materion Cymreig cyntaf erioed.

News release: We have increased our engagement with the legal sector in Wales by appointing our first ever Head of Welsh Affairs.

Anna Bradley has been reappointed as the Chair of our Board for a second three-year term.

We are consulting on our 2021-22 business plan and budget as part of our commitment to accountability and transparency.

We are seeking feedback on a clause making cover for cyber losses explicit in the minimum terms and conditions (MTC) of law firms’ professional indemnity insurance (PII) policies.

Press release: Law firms throughout England and Wales are being asked about their experiences and views on the use of technology and innovation in the legal sector as part of a major research project launched this week by the University of Oxford.

Law firms are being urged to check that they are up-to-date with all the latest developments and legislation regarding money laundering by reading two new pieces of national sector-wide guidance issued on the subject.

News release: Three more firms have been disciplined for breaches of the transparency rules as we continue to clamp down on non-compliance.

Our Board has welcomed four new members - Ann Harrison, Dermot Nolan, Vikas Shah MBE and Elizabeth Smart - who took up their places this month.

Solicitor firms have until Sunday (10 January) to check if any tax advice work they carry out falls under a new definition for money-laundering purposes.