The Solicitors Regulation Authority (SRA) is consulting on its business plan 2020/21 and budget.
In addition to the SRA's core work to protect the public and deliver effective regulation of law firms and solicitors, key areas of work set out in the 2020/21 business plan include:
- the planned introduction of the Solicitors Qualifying Examination
- responding to the implications of the COVID-19 pandemic for the legal sector
- increasing monitoring of anti-money laundering arrangements
- understanding and supporting the adoption of technology in the legal sector
- supporting the legal sector through the transition toward the UK's EU exit
- establishing an SRA office in Wales
As part of this consultation, the SRA is also asking for views on its proposed principles for managing its compensation fund.
The business plan consultation takes place alongside the Law Society Group’s consultation on the level of the practising certificate fees for 2020/21, which runs until 10 July.
The SRA has encouraged responses on the budget component of the business plan before 10 July.
The consultation closes on 26 August.