Updated plans on financial penalties following consultation feedback
We have announced how we intend to move forward with plans to update our approach on issuing financial penalties to law firms and solicitors who fall short of the expected professional standards.
We launched a public consultation last year on proposed changes to our current approach to issuing penalties. The aim of these proposals is to make sure we have a robust approach in place which protects the public, provides a more appropriate deterrent and ensures cases can be resolved much more quickly - reducing costs and stress for all involved.
More than 7,500 people engaged with consultation, with most broadly in favour of the principles outlined, including the public, profession and their representative groups, although some did provide differing views on the detail of how specific proposals would be implemented.
One key area of concern was around a lack of alignment in approach between the SRA and Solicitors Disciplinary Tribunal (SDT). This included feedback that the SDT regime provides more confidence due to greater transparency and independence, while an increase in our fining powers risked a misalignment with the SDT's approach.
We agreed that better alignment with the SDT should be aimed for. We have committed to working with the SDT to develop updated guidance on financial penalties, and the new rules that support the introduction of a fixed penalties scheme.
