News – Page 140
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SRA wants compensation fund to cover intervention bill
The SRA has decided not to impose a one-off levy on solicitors to pay for the rising cost of intervening in failed firms, but wants the multimillion-pound bill to fall on the rapidly diminishing compensation fund instead.
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SRA right to raid compensation fund - for now at least
It all goes very quiet at the SRA board meetings when the subject of interventions comes up. Director Richard Collins updated the situation yesterday with the solemnity of a radio announcer reading out the names of kittens who have died that day.
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Society warns against muddling funding for interventions
The Law Society has called for ‘proper transparency’ if regulators are to pay intervention costs out of compensation fund reserves. The Solicitors Regulation Authority confirmed on Wednesday it wants to cover an estimated £7m overspend on interventions this year by using money held in the compensation fund. The SRA says ...
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SRA commits millions to interventions
The Solicitors Regulation Authority has already used 10% of its entire annual budget intervening in failed firms in 2013, the organisation revealed today.
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SRA joins attack on ‘poorly informed’ Legal Services Board
The Legal Services Board stands accused of partiality and incompetence in the latest attack from a regulator.
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SRA sticks to its red tape agenda
The board of the Solicitors Regulation Authority (SRA) said today it has approved all 10 amendments to the Solicitors Handbook identified in its ‘red tape initiative’.
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Society pours cold water on the SRA’s red-tape bonfire
The Law Society has come to the defence of nearly half the items on a menu of ‘unnecessary’ red tape drawn up by the Solicitors Regulation Authority.
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PC renewals ‘relatively trouble free’ but 4,500 short
The deadline for solicitors to renew their practising certificates has passed with an estimated 4,500 applications still outstanding, the Solicitors Regulation Authority said today.
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Behind closed doors
I know that admitting this is a bit like inviting Jehovah’s Witnesses into the house, but I am genuinely interested in the work of the Legal Services Consumer Panel. The panel’s latest background paper, Empowering Consumers, raises important questions about whether people who buy legal services are consumers in the ...
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Davies gets three more years at consumer panel
The Legal Services Board (LSB) today announced the re-appointment of Elisabeth Davies (pictured) as chair of the Legal Services Consumer Panel. Davies’s new appointment runs from 1 August 2012 to 31 March 2015. She has been interim chair following the resignation last year of Lady Hayter.
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Quality test 'should not protect barristers'
Controversy about the use of judicial evaluation in a new scheme to assess the quality of advocates has escalated, with solicitors’ bodies warning that the scheme could become a means to protect barristers.
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SRA seeks online feedback
The Solicitors Regulation Authority has promised a ‘comprehensive review’ of problems encountered in its first year of online renewals.
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Deadline looms for online PC renewal
More than one-third of solicitors had yet to start renewing their practising certificates online through the mySRA website by Tuesday of this week, the Solicitors Regulation Authority said. The deadline for the first batch of registrations is Monday (13 February).
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SRA sorry for online delays
The Solicitors Regulation Authority has apologised for further delays to online renewals of practising certificates as it starts to clear a backlog of applications. The SRA’s new mySRA system, which replaces paper forms and cheques, has been the subject of widespread criticism in the profession.
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We’re clearing web backlog, says SRA
The Solicitors Regulation Authority has apologised for delays to online practising certificate renewal as it starts to clear the backlog of applications.
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SRA warning to legal aid lawyers
The Solicitors Regulation Authority (SRA) has urged firms to take care with vulnerable clients and uphold standards even if legal aid cuts are in force.
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Regulator to miss October deadline for ABSs
The Ministry of Justice has confirmed that the Solicitors Regulation Authority will miss its 6 October deadline for an ABS licence.
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SRA braced for ABS interest from abroad
The SRA has been told to prepare for increasing interest from non-English law firms following the introduction of alternative business structures.
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Publish complaints against firms, Consumer Panel urges
The body that advises the Legal Services Board on the interests of consumers has called for the publication of complaints made against law firms if they have been upheld. Responding to an open consultation by the Legal Ombudsman (LeO) on whether its decisions should be published, the Legal Services Consumer ...
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Conveyancing under spotlight as SRA unveils sweeping PII reforms
The single renewal date for professional indemnity insurance (PII) should be scrapped from 1 October next year, the Solicitors Regulation Authority has recommended in a consultation on client financial protection, published today. The regulator simultaneously announced that it will begin investigating failures in the conveyancing process early next year, and ...