Plans are also underway to cut the SRA Handbook from its current 600 pages to nearer 50. The revised handbook and code of conduct will be published for consultation in June.
SRA executive director Crispin Passmore (pictured) said the new documents will change the way the regulator operates, from prescriptive rules to setting a collection of values and behaviours that solicitors should adhere to.
‘We don’t need to explain in detail what is permitted, solicitors just need to know our position,’ said Passmore.
The regulator is in the middle of an 18-month process aimed at simplifying its approach and shrinking the 600-page SRA handbook. The concept of fewer rules was set out in a discussion paper last November.
Solicitors will be given just five pages of rules in a proposed slashing of the regulations imposed on the profession. The Solicitors Regulation Authority yesterday outlined plans to reduce the code of conduct to just 10 pages - five each for firms and individuals - in a revamped set of rules.
Founded in 2011 by entrepreneurs Roger Carson and Wayne Johnson, and operating from the UK, encompass is the creator of unique, innovative Know Your Customer (KYC) software for banking, finance, legal and accountancy that enable better, faster commercial decisions. The company is driven by the belief that the best decisions are made when people understand the full picture.
want to turn regulation compliance
in to a competitive advantage?
Contact us today to arrange your personalised consultation of encompass. Discover how our KYC automation software can help your business accelerate onboarding and give you peace of mind that you are regulator ready.