The Solicitors Regulation Authority (SRA) has confirmed that the new SRA Standards and Regulations will now come into effect on 25 November 2019.
The key changes being introduced include:
- Creating separate codes of conduct for firms and solicitors
- Simpler Account Rules that focus on the principles of keeping client money safe, rather than lots of specific technical rules
- Freeing up solicitors to carry out ‘non-reserved’ legal work from within a business not regulated by a legal services regulator
- Allowing solicitors to provide reserved legal services on a freelance basis.
The initial reforms were approved in full by the Legal Services Board (LSB) late last year. Since then, a few minor amendments have been made to the regulatory rules which are now awaiting LSB approval.
VinciWorks has numerous resources to help you and your firm ensure you are compliant with the new regulatory framework. These include an on-demand webinar with the SRA’s Richard Williams containing an overview of the regulatory reforms, together with an SRA blog where we publish regular updates and guidance on the changes.
Upcoming training on the SRA’s Standards and Regulations
VinciWorks’ scenario based SRA Handbook training suite includes four interactive courses to ensure all legal professionals are aware of the key SRA regulatory changes. The courses are driven by a personalised learning experience based on an individual’s role in a law firm with a dynamic course builder. The course is customisable as standard and includes self-reflection questions, providing firms with an extra layer of documentation to prove compliance to the SRA.