The SRA has responded to the LSB decision to publish a notice issued pursuant to paragraph 21(1)(b) of Part 3 of Schedule 4 to the Legal Services Act 2007. The notice relates to the SRA’s application submitted on 15 July 2014 seeking approval for changes to the Indemnity Insurance Rules to reduce the compulsory minimum level of cover to £500,000 from £2m (£3m for incorporated practices).
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