The SRA have today confirmed that its new Standards and Regulations will come into effect on 25 November 2019, not this spring as previously advised.
Anna Bradley, chair of the SRA, said the revised date was a sensible move to give everyone – regulators and the regulated community – the chance to amend its methods. She added: ‘By stripping away outdated and unnecessary rules and giving solicitors more flexibility to design and deliver their services around their clients, our new regulations are designed to help people access a wide range of high quality services with the confidence that proper protections are in place. That can only be good for the public and the profession.’
The new regulations will be supported by the SRA’s revised enforcement strategy, which was introduced in February 2019, and sets out to provide greater clarity on the regulator’s approach in cases of potential misconduct.
The SRA has promised a range of guidance over the coming months including initial documents covering areas such as the Accounts Rules, practical application of the SRA Principles and which type of firms and individuals need authorising.
Coinciding with the introduction of Standards and Regulations, November will also see the SRA Digital Badge becoming a mandatory requirement for all regulated firms who run a website. First launched on a voluntary basis in December 2018, the badge uses smart technology to confirm to website visitors that a specific firm is regulated. It also provides a firm-specific link to information on the protections that this status provides to potential customers.