SRA Update
Issue 116 - June 2023
Welcome to the latest issue of SRA Update. As well as 1 June marking the official start of the meteorological summer, it was also the day that our new fining regime came into force. We consulted widely on the principles and details of our refined approach with the aim of resolving our disciplinary work much more quickly. Find out more in this issue. Also this month, we’ve introduced a new way to verify your mySRA account and a good practice guide for those of you operating in the youth courts. It’s also your opportunity to get involved in this year’s SRA Innovate events.
Paul Philip
Chief Executive
From 12 June, we are introducing an additional verification step to make your mySRA account more secure. This means when you log in you will need to register a phone number. You will then need to have this phone with you every time you log in to mySRA and use a text message code or call to verify your identity. Because of this, you will also need to replace any saved mySRA website links.
Our policy for usernames for mySRA accounts has had to change. We therefore found we had to amend anyone’s account if their username included a full stop. If this applies to you, you will need to find out your new username in order to log in to your account.
Our new fining regime came into force on 1 June, bringing our approach up to date. The new regime includes issues such as fixed penalties for specific technical breaches of our rules, and linking fines to firm turnover or individual’s salaries.
Read more about: New financial penalties regime now in place
We commissioned the University of Exeter’s Schools of Law and Business to look at what causes differing outcomes for ethnic groups in professional assessments. The first phase of independent research, a systematic literature review, has now been published and shows some of the potential multiple and complex causes of differential outcomes by ethnicity in professional assessments.
Read more about: Review looks at factors influencing the outcomes in professional assessments
We are consulting on specific rules to restrict fees for work in compensation claims for mis-sold financial products. We want to find the right balance for making sure consumers get value for money and keeping this a viable service to offer for law firms. If you work in this area, please make sure you have your say.
Read more about: Have your say on restricting fees in financial mis-selling
Interested in learning more about the issues, challenges and opportunities associated with innovation and technology in the legal sector? Why not sign up to our SRA Innovate 2023 events? Taking place in Bristol (20 June) and London (5 July), these events will provide you with an invaluable opportunity to get practical tips.
Read more about: Get practical tips on innovation at our Innovate events
We have previously told you about the Legal Ombudsman (LeO) consulting on changes to its scheme rules. The proposed amendments came into effect on 1 April. The Ombudsman has produced a range of resources about what’s changed and how it might affect you.
Read more about: Find out more about Legal Ombudsman scheme rules changes
Interested in meeting your regulator? Come and talk to us face-to-face about the regulatory issues most concerning you in either Bristol or London. We will also be discussing how we are supporting law firms' adoption of tech and innovation and our ongoing work around anti-money laundering and sanctions compliance.
Join our free webinar on Monday 11 September for an insight into trends seen in cases within our AML Investigations Team, where enforcement action has or is being taken for breaches of the money laundering, terrorist financing and financial sanctions regimes. You can also pick up tips on what controls you can put in place to avoid common AML breaches.
Read more about: Webinar – anti-money laundering enforcement
We have now completed the annual review of the functioning legal knowledge that is assessed in SQE1 and SQE2. We have made some minor amendments to make clearer our expectations around understanding the laws in England and Wales and where they differ. The new assessment specifications come into effect for assessments taking place from September 2023.
Read more about: SQE functioning legal knowledge annual review
Want to know more about how qualifying work experience is confirmed? Take a look at our step-by-step guide and video to find out what information we need from candidates and how a solicitor confirms their experience.
Read more about: Recording and confirming qualifying work experience
Welsh law firms have been asked for their views on how the legal sector is adopting and using digital resources and the challenges being faced in their adoption. All feedback given will help inform Welsh Government and its partners in their approach to assist the market and its clients, to support digitalisation in the legal sector in Wales. You can do this via a survey that’s open until Friday 23 June.
Read more about: Welsh law firms’ views wanted on their use of technology
Are you worried about your health affecting your work? Life as a solicitor can be challenging and the demands and pressures can easily build up. We can signpost you to sources of help and make adjustments for you if you are in difficulty.
Welcome to the latest Compliance News section of SRA Update. This month we have important information on the National Crime Agency’s latest guidance for completing suspicious activity reports, as well as an update on trust services as part of the financial sanctions regime. We also have an update on our latest firm diversity data collection and a good practice guide for those of you operating in the youth courts.
Paul Philip
Chief Executive
Submitting suspicious activity reports is an important part of your armoury for helping stop money launderers using legal services for their nefarious activities. The National Crime Agency has issued new guidance on the best way to submit a report.
Read more about: New guidance on submitting suspicious activity reports
We have produced a good practice guide for youth court solicitors that address the challenges of practising in the youth justice system. This can help solicitors to understand and meet our competence expectations and covers topics such as awareness of needs, checking understanding and helping children participate.
We have updated guidance on health issues raised in our regulatory work and medical evidence. It covers health issues reported to us by a solicitor, and those which lead to an investigation or emerge during an investigation.
Read more about: Updated guidance, health issues and medical evidence
It’s now nearly six months since HM Treasury brought the provision of trust services into its financial sanctions regime. The Office of Financial Sanctions Implementation has published a blog to help clarify some of the issues that have arisen since then.
From 26 June, we will be asking all firms to submit their diversity information. To help your firm get ready to complete this regulatory requirement, we have published a copy of the questions you will be asked. We encourage all firms to take a look at these now, so you can start gathering the information you will need from your staff.
Read more about: Get ready to submit your diversity information this summer
Subscription
If you are regulated by the SRA
As a regulated individual, please simply ensure that the SRA has your current contact email address on record.
To ensure we have your current email address, log in to mySRA and check your profile.
No subscription request is required.
We recommend that you ask your network administrator to ensure that bulk email with "SRA Update" in the subject line is not filtered as spam.
If you do not wish to receive SRA Update, please unsubscribe.
If you are not regulated by the SRA
If you are not regulated by the SRA, please email a subscription request to SRAupdate@sra.org.uk.
Unsubscribe
To unsubscribe, please complete our unsubscribe form . We cannot process unsubscribe requests submitted by email.
Editorial comment
Please send editorial comment to SRAupdate@sra.org.uk.