SRA proposed budget increase could impact firms – The Law Society
The Solicitors Regulation Authority’s (SRA) 2023-2024 business plan and budget consultation proposes a 12% budget increase, which could impact firms who are already facing inflationary pressures, the Law Society of England and Wales said this week. In response to the consultation, launched in May, the Law Society welcomes a continued focus on: Equality, diversity and […]
CLC launches State of Probate survey for 2023
We have launched our State of Probate survey for 2023. The survey looks to take a snapshot of the current state of the probate market and examine the issues facing those working in the sector. We last ran the survey in 2021 and are running it again this year to benchmark changes across the sector. […]
LSB study suggests unethical barriers limiting progress on EDI
The Legal Services Board (LSB) has published a qualitative study on the experiences of 30 legal professionals from underrepresented groups trying to get into, feel part of, and succeed in the legal profession. While not designed to be statistically representative, the sample included a mix of gender identities, sexualities, ethnic backgrounds, religious beliefs, socio-economic backgrounds, […]
Law Society comment: LSB approves SRA rule changes on SIF
The Legal Services Board (LSB) has published their decision on the Solicitors Regulation Authority’s (SRA) rule change application to bring the Solicitors Indemnity Fund (SIF) under the regulator’s direct managerial control. Law Society of England and Wales President Lubna Shuja said: We are pleased that the changes have been approved. This comes after significant campaigning […]
Legal Services Board appoints new policy and regulation director
The Legal Services Board (LSB) has appointed Richard Orpin as its new Director, Regulation & Policy. He will lead the LSB’s policy, research and regulatory teams from June 2023. Richard joins from Ofcom, where he led the communications regulator’s engagement with Government and Parliament on all broadcasting and media matters. Commenting on the appointment, Matthew […]
SRA proposes new strategy focused on enhancing confidence in legal services
The Solicitors Regulation Authority (SRA) has launched a consultation on its proposed Corporate Strategy for 2023–2026. Alongside publication of the overall strategy, it is also consulting on the finer detail of its business plan and budget for 2023-24, the first year of the new strategy period, which comes into effect from November 2023. Over the […]
CILEx Regulation launches consultation on future of CILEx professionals
CILEx Regulation (CRL) has launched a consultation into how the present system of regulation can work better for consumers, the regulated community and the wider public, now that the recent investigation by the Legal Services Board has concluded. CRL is asking those it regulates, as well as interested parties across the legal community and the […]
Law firms issued guidance on new wellbeing at work rules
We have issued updated guidance to help law firms and those who work for them understand what new rules on health and wellbeing in the workplace mean for them. The new rules were introduced earlier this month following approval by the Legal Services Board (LSB). They include specific obligations in the Codes of Conduct for both firms […]
Use of electronic bills in Court of Protection cases
The pilot for the use of electronic bills, which began on 1 November 2022, has been successful. Currently, about 30-40% of Court of Protection bills received are in electronic form and the Costs Officers have efficiently assessed a sufficient number to enable us to conclude that the use of bills in this format should continue. […]
HMRC guidance: Taking higher tax-free lump sums with lifetime allowance protection
HMRC has published guidance on taking higher tax-free lump sums with lifetime allowance protection following the pension changes announced at Spring Budget earlier this year. Here’s what it says. From 6th April 2023, the amount of tax-free lump sum you can take is 25% of your pension pot, up to a maximum of 25% of […]
SRA releases new sanctions questionnaire
The Solicitors Regulation Authority (SRA) has released a new questionnaire compelling law firms to report on their firm’s approach to financial sanctions. The assessment should outline how the firm is ensuring compliance with the current financial sanctions regime. The window for responses is 2nd – 31st May 2023. Below is the SRA’s guidance related to […]
LSB 2023/24 Business Plan Published
The Legal Services Board (LSB) 2023/24 Business Plan has been published outlining its key objectives over the next 12 months; the third such plan the LSB have released since its “Reshaping Legal Services’ strategy was published in March 2021. “Reshaping Legal Services” has seen the introduction of more stringent measures on legal service providers to […]
New ethical standards put at heart of CLC strategy
A revised set of ethical principles is at the heart of the Council for Licensed Conveyancers (CLC) new strategy, the regulator has confirmed. The strategic plan, for 2023-25, also outlines ambitions to grow the regulated community, including offering an alternative home to solicitors and chartered legal executives specialising in conveyancing and probate. It also says […]
More case studies added on banking facilities rule
The Solicitors Regulation Authority (SRA) has added further case studies to those published online to help firms remain compliant with the rule prohibiting use of the client account as a banking facility. The SRA Accounts Rules include Rule 3.3, which states solicitors “must not use a client account to provide banking facilities to clients or […]
Appointment of a new Vice-President of the Court of Protection
Mrs Justice Theis has been appointed as Vice President of the Court of Protection with effect from 13th February 2023. She succeeds Mr Justice Hayden. The appointment has been made by the Lord Chief Justice, on the recommendation of the President of the Family Division and following consultation with the Lord Chancellor.
Nightingale Courts to remain open for further year
A total of 24 temporary courtrooms, which were set up to boost capacity during the pandemic, will remain open in 2023 to allow more cases to be heard. The government is investing £477 million over next three years to tackle the Crown Court backlog which significantly increased because of the pandemic. This includes allowing courts […]
SRA confirms updated approach to fines and publishing decisions
Following public consultation, the Solicitors Regulation Authority (SRA) has confirmed the detail of changes for how it levies financial penalties to law firms and solicitors. The reforms, which will come into effect later in the year, will see: the introduction of a fixed-penalty regime for lower-level misconduct future fines for both firms and individuals linked […]
SRA Board finalises rules for post six-year client protection
The Solicitors Regulation Authority (SRA) Board has agreed the final rules which will bring the Solicitors Indemnity Fund (SIF) under the SRA’s control to ensure future consumer protection for post six-year negligence claims. The rules will now be submitted to the Legal Services Board (LSB) for approval, ahead of the new arrangements becoming effective from […]
Alan Kershaw confirmed as new LSB Chair as Dr Helen Phillips steps down
The Ministry of Justice and Legal Services Board (LSB) have announced the appointment of Alan Kershaw as the new Chair of the LSB. He has been appointed for a four-year term effective from 1st April 2023. The Lord Chancellor made the appointment in consultation with the Lord Chief Justice in accordance with the Legal Services […]
Risks and opportunities of crypto technologies
The risks – and opportunities – presented by developing crypto technologies are outlined in a new SRA report. The latest in our Risk Outlook series looks at cryptocurrencies and other distributed ledger technologies and how they might impact the legal services sector. Some firms are using these to improve delivery while some organisations, such as the Land […]