Tthe SRA has responsibility for investigating failures to meet the regulatory standards set out in its Handbook. The SRA’s effective, consistent and proportionate use of its enforcement powers, including imposing fines, plays a vital role in ensuring a credible deterrence against unacceptable behaviours and furthers the regulatory objectives and professional principles in the Legal Services Act 2007.
The SRA has announced a consultation on increasing its fining powers. All BLS members are encouraged to submit views to the consultation.
This consultation paper invites views on our proposal to increase the current level of our fining powers for ‘traditional’ law firms from their current level of £2,000. The purpose of this consultation is to obtain your feedback on our proposed approach. Your input will assist us to assess views upon our proposals and how they can be taken forward.
The deadline for responses to this consultation is 7 February 2014.
To take part or to find out more, visit sra.org.uk/consultation