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The SRA reforms will remove a ban on solicitors working in businesses that are not regulated law firms.
https://www.sra.org.uk/sra/policy/fu...ng-future.page
My understanding prior to this was, if a regulated solicitor in a regulated law firm breached SRA regulations, then both solicitor and firm would be held accountable. If a business is held accountable for the actions of their solicitors, they are more likely to ensure that breaches don't occur.
Once the reforms are in place, there is no change for regulated law firms, they will still be held accountable for any breach committed by their regulated solicitors but, an unregulated firm will not be held accountable for any breach made by their regulated solicitors.
How is this a level playing field?
Unless I'm reading this all wrong, it seems unregulated firms will have some SRA protection without any of the accountability!
https://www.sra.org.uk/sra/policy/fu...ng-future.page
My understanding prior to this was, if a regulated solicitor in a regulated law firm breached SRA regulations, then both solicitor and firm would be held accountable. If a business is held accountable for the actions of their solicitors, they are more likely to ensure that breaches don't occur.
Once the reforms are in place, there is no change for regulated law firms, they will still be held accountable for any breach committed by their regulated solicitors but, an unregulated firm will not be held accountable for any breach made by their regulated solicitors.
How is this a level playing field?
Unless I'm reading this all wrong, it seems unregulated firms will have some SRA protection without any of the accountability!
