SRA corporate strategy 2023/26 – Law Society response

The proposals

For the first time, the SRA sets out its mission: enhancing confidence in legal services. Its priorities for the next three years are to:

• deliver high professional standards
• strengthen its risk-based and proactive regulation
• support innovation and technology
• be an authoritative and inclusive organisation, meeting the needs of the public, consumers, those it regulates and its staff

The SRA says high standards are at the heart of what it does, so it sets out what it thinks success will look like for:

• the Solicitors Qualifying Examination (SQE)
• its anti-money laundering programmes
• its work to open up the market and help consumers to make good choices
• how its regulation will be seen

The SRA also recognises it has to improve its core operational work, particularly in relation to enforcement and continuing competence.

The SRA proposes to deepen its work on technology and innovation, putting an emphasis on using data and insight to help focus its activity and inform wider policy debates on issues such as:

• access to justice
• ethical practice
• the delivery of a diverse, inclusive and effective legal market

Our view

We support the SRA’s mission of enhancing confidence in legal services through regulation. We welcome its continued prioritisation of the SQE, continuing competence and technology.

However, as technological evolution accelerates, it is important that regulators have the expertise to examine technological landscapes and exercise their regulatory powers effectively. We would be delighted to assist the SRA with its lawtech work.

We welcome the SRA’s continued focus on EDI, particularly research into:

• the attainment gap for candidates from Black, Asian and minority and ethnic backgrounds in professional assessments
• the overrepresentation of solicitors from those backgrounds in the enforcement process

While we broadly support the proposed regulatory strategic priorities, we remain concerned that additional requirements will add onerous burdens to the profession when parts of the sector are already under pressure from inflation and increases in cost of living.

Next steps

The consultation closed on 2 August 2023.

Read the full consultation on the SRA website