Regulatory performance survey findings - 2012
The Law Society conducts a regular survey of solicitors' experiences of regulation to ascertain areas of difficulty and to measure the impact of changes in regulation.
The recent survey revealed that businesses are still struggling with the evolving regulatory landscape.
The survey also showed that solicitors believe that the current regulatory regime places too greater burden on firms and the cost of compliance is a major concern to them.
However, firms see the SRA's enforcement under outcomes-focused regulation (OFR) as a credible deterrent, indicating that a move to OFR is not seen by firms as 'light touch'.