The Solicitors Regulation Authority has issued a first draft of the 10 new principles which will form the basis of a new ‘outcomes-focused regulation’ regime.

The broad principles are contained in a simplified handbook published for consultation by the SRA last week.

The concise principles include a duty for solicitors to ‘act with integrity’; ‘provide a proper standard of service to clients’; ‘act in the best interests of each client’; and ‘not allow their independence to be comprised’.

The new system is designed to cut out unnecessary rules and simplify the regulatory regime, allowing for more flexibility and a greater dialogue with law firms about their risk management. However, detailed rules will still apply in areas such as accounts.

As part of the consultation, the SRA has begun a series of 10 regional roadshows giving solicitors an opportunity to discuss the changes.

The final handbook is expected to be launched in October 2011, to coincide with the full implementation of the Legal Services Act 2007.

To respond to the consultation, see www.sra.org.uk.