New SRA Standards and Regulations: Changes in Legal Sector
Discover the latest changes in the legal sector with the introduction of the new SRA Standards and Regulations in 2019. Find out how these reforms aim to provide a clearer, more accessible framework for legal services and benefit both individuals and firms in the non-commercial sector.
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The new SRA Standards and Regulations and the non-commercial sector Carol Westrop and Chris Handford
Our regulatory reform programme In 2019 we are introducing the SRA Standards and Regulations. This will replace the existing Handbook. The new SRA Standards and Regulations will include new Principles, Codes of conduct for individuals and firms and new Accounts Rules. The new rules allow solicitors to set up as freelancers and provide unreserved legal services from businesses not regulated by a legal services regulator.
Why we are changing We are changing our rules to make them: More focused on what matters to us. Shorter, easier to understand and clearer. We also wanted to make it easier for: The public to access legal services. Solicitors and firms to do business by removing restrictions in our rules we cannot justify.
The key changes New Principles and new Code for individuals Simpler accounts rules, new definition of client money Changes to the qualified to supervise rule Clarity about pro bono no need for letter of comfort Changes to our insurance requirements
Benefits of changes Separate Code for individuals provides clarity Rules are easier to navigate More flexible insurance requirements Clarity about pro bono Sector specific guidance
Guidance for the non- commercial sector We know that the non-commercial sector would welcome additional guidance on how the new rules will apply to it. We have been talking to the non commercial sector about the changes and commissioned experts to help us develop guidance for the sector. We are still working on the guidance but will have it in place before the new rules come into effect.
Find out more about our reforms at www.sra.org.uk Questions?
