The SRA has also proposed to reduce the code of conduct to just 10 pages –five each for individuals and firms. The revised handbook and code of conduct are to be published in June for consultation.
SRA executive director Crispin Passmore says the revisions will change how the regulator operates, from a set of prescriptive rules to a collection of values and behaviours to which solicitors should adhere.
Another of the key changes to the handbook will be changes to the rules around client accounts and there is speculation about whether law firms will face restrictions on holding such accounts. The Law Society has launched a consultation, saying it has seen no evidence that this is necessary or appropriate and that it could be detrimental for the profession if restrictions are imposed by regulators.
Source: The Law Society Gazette
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