The Solicitors Regulation Authority (SRA) is a pivotal institution in the legal profession in England and Wales.
As the regulatory body for solicitors, it plays a crucial role in maintaining professional standards, protecting the public, and upholding the constitutional principle of the rule of law.
What is the Solicitors Regulation Authority?
The Solicitors Regulation Authority (SRA) was formed on 29th January 2007, following the enactment of the Legal Services Act 2007.
Based in Birmingham, it’s main aim was to reform the legal profession to ensure better regulation, improve competition, and provide a more comprehensive and effective system of legal services for both employees and employers in England and Wales. However, while the SRA is formally an arm of the Law Society, they are separate.
Employing a chief adjudicator and a team of internal and external adjudicators, the SRA regulates all 157,000 solicitors and almost 10,000 law firms in England and Wales. They protect and help the public by ensuring solicitors and law firms meet high standards, imposing professional sanctions against those who don’t follow the rules, and helping indivisuals get their money back.
It’s important to note that all employees of law firms are liable to sanction by the SRA if they’re found guilty of breaching any of the regulator’s rules and regulations.
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What is the role of the SRA?
The SRA has a wide range of roles and responsibilities. It’s main duties are to set standards, ensure adherance to these standards, and take action when these standards are breached.
They have the power to prosecute solicitors, lawyers, and law firms at the independent Solicitors Disciplinary Tribunal (SDT) on their behalf. In doing so, they can serve justice by issuing fines and even striking off individuals or firms if they deem it necessary to protect their clients and the wider public.
However, in events where licensed bodies can’t be referred to the SDT, the SRA might hold an oral hearing.
The SRA also provides education and training to make sure solicitors and adequately prepared for their role and continue to develop professionally throughout their careers.
By accessing the SRA, you can check whether a solicitor or law firm is regulated, their contact details, whether they’ve been closed down, and if any disciplinary actions have been taken against them.
What is the SRA Code of Conduct and Solicitors Handbook?
The SRA Code of Conduct is a key document that outlines the ethical principles that guide solicitors in their work. It sets out the professional standards that solicitors must adhere to and delivers guidance on various aspects of legal practice.
It’s divided into a Code of Conduct for Individuals and a Code of Conduct for Firms to ensure it covers core principles for both solicitors and law firms.
The Solicitors Handbook, on the other hand, is a comprehensive guide that contains the SRA’s regulatory requirements.
It encompasses the SRA Principles, the Code of Conduct, and the rules regarding accounts, authorisation, and disciplinary procedures.
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How do you become a solicitor or law firm under the SRA?
Becoming a solicitor under the SRA involves a rigorous process. To be accepted, individuals must complete a legal practice course, a two-year training contract, and a professional skills course.
It’s also crucial that you meet the SRA’s character and sustainability requirements, which includes a series of background checks to ensure you should be admitted to the roll of solicitors.
The process requires a number of fees, such as an admission fee (£100), a practising certificate (£326 annually), and a contribution to the Compensation Fund (£70), totalling £496 overall. These costs must be paid before you’re able to practice as a solicitor.
Becoming a law firm under the SRA, on the other hand, requires firm authorisation, which involves meeting specific eligibility criteria, demonstrating compliance, and submitting an application on the SRA website.
During the application process, you must choose your firm type (recognised body, licensed body, or sole practitioner) and ensure solicitors have at least three years of post-qualification experience, have completed a management skills course, and have fulfilled various finance-related risk management requirements.
How are SRA standards enforced?
The SRA supervises solicitors and law firms to ensure they adhere to a range of professional standards. To do this, it conducts regular reviews, firm checks, and individual assessments to monitor compliance on an ongoing basis.
When breaches occur, the SRA have the authority to take enforcement action against the relevant party involved. This can range from issuing fines and reprimands to referring severe cases to the SDT, which has the power to suspend or strike off solicitors from the roll.
It receives reports about alleged breaches from members of the public, clients, or other organisations and guides its decisions on the seriousness of the breach and whether it’s an instance of repeated behaviour to protect the public interest.
If the concern suggests a serious breach, an investigation will be launched to gather more information and determine the facts. In very serious cases, the SRA can close down a firm if it’s in the best interests of their consumers and their money.
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How does the SRA impact CCJs?
County Court Judgments (CCJs) are a significant aspect of the legal landscape in England and Wales and the SRA has a role to play in this context. But what is a CCJ? Put simply, a CCJ is a type of court order in England, Wales and Northern Ireland that might be registered against an individual if they fail to repay money they owe.
For solicitors and law firms, a CCJ can negatively affect their credit status and, in turn, their ability to manage their business finances effectively.
The SRA requires all solicitors and law firms to maintain a certain level of financial stability and probity to ensure they can continue to serve their clients effectively and meet their financial obligations. If a solicitor or a law firm has a CCJ registered against them, it could indicate financial instability or mismanagement, which is a major concern.
The SRA’s Code of Conduct requires all solicitors to act in a way that upholds public trust and confidence in the solicitors’ profession. This includes managing their business or carrying out their role in the business effectively and in accordance with proper governance and sound financial and risk management principles.
For example, if a solicitor or law firm has a CCJ that they have not paid and have not made reasonable arrangements to pay, this could be seen as a failure to uphold these principles and the SRA might take regulatory action. This could include imposing conditions on the solicitor’s practising certificate or the firm’s authorisation, or referring the matter to the SDT.
It’s important to note that the SRA does not have the power to intervene in the CCJ process itself.
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Conclusion
The Solicitors Regulation Authority (SRA) plays a pivotal role in the legal industry in England and Wales. As the key regulatory body for solicitors, it’s tasked with the challenging responsibility of maintaining professional standards, ensuring ethical conduct, detecting procedural irregularities, and safeguarding the interests of the public.
However, the SRA’s role extends beyond just regulation. It sets the tone for the profession, outlining the standards and ethics that guide solicitors in their day-to-day work. Through its rigorous authorisation and licensing process, it ensures that only those who provide a certain quality of service of can practise as solicitors.
Its commitment to continuous professional development ensures that solicitors remain competent and up-to-date with changes in the law and practice.
