SRA introducing two tiers of regulated law firms

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    Jonathan Lea
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    In response to the increasing competition faced by regulated solicitors when delivering ‘non-reserved’ legal services, the Solicitors Regulation Authority is in the process of creating effectively two tiers of regulated law firms – one being the existing traditional firm which operates a client account, the other tier being ‘light touch’ for individual qualified solicitors holding a practising certificate but doing non-reserved activities and not using a client account.

    Here’s the new regulatory framework which should be happening in 2019: https://www.sra.org.uk/sra/consultations/code-conduct-consultation.page

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