UK regulator considers 50-fold increases in fining powers

The Solicitors Regulation Authority (SRA) has issued a consultation paper in which it wants views on whether it should raise its maximum fine from £2,000 to £100,000.

21 November 2013

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The move marks a step backward from a previous proposal where a top limit of £250m had been mooted. The current consultation also asks whether a smaller maximum should be put in place - one of £10,000, for example. The biggest penalty the SRA has ever made is one of £50,000, back in 2009. Source: Legal Futures