24 hour helpline:
“The SRA has announced a range of proposed regulatory reforms aimed at making regulation more proportionate and less costly for smaller firms of solicitors. Such proposals include a reduction in the minimum level of professional indemnity insurance. More controversially, the SRA is also proposing to remove the requirement for firms with client accounts to deliver annual accountants’ reports – with COFAs taking the responsibility of certifying that their firm is compliant with the SRA Accounts Rules. See the proposals here: http://www.sra.org.uk/sra/news/press/regulatory-reform-programme.page”.
Client Relationship Manager
T: 0113 385 4483
M: 07432 695 289
The Law Society has issued a practice note about the risks to solicitors posed by this new legislation, which came into force on 30 September.
The SRA has urged all practices to check HM Treasury’s consolidated list of asset freeze targets, which lists designated persons subject to financial sanction under EU or UK legislation.
The practising certificate renewal period opened on Monday 2 October.
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