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Fines hike for solicitors & law firms

22 February 2023
Issue: 8014 / Categories: Legal News , Profession , Regulatory , Disciplinary&grievance procedures
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Proposals to fine firms up to 5% of their annual turnover for breaches of the professional rule book have been confirmed by the Solicitors Regulation Authority (SRA).

While fixed penalties of £750 or £1,500 will be charged for low-level misconduct, such as failing to publish the required costs or complaints information, fines for both individuals and firms for more serious breaches will be based on percentages of gross income or turnover. These would range from 0.2% to 5%.

The SRA intends to pilot the use of personal impact statements in cases of sexual misconduct, discrimination or harassment. It will also publish information on disciplinary decisions for longer periods, ranging from three years for warnings and fines to permanently for strike-off decisions.

The new regime is due to take effect on 30 May, subject to Legal Services Board approval.

Paul Philip, SRA chief executive, said: 'When we need to step in and take action it is important that we have a transparent and effective disciplinary approach in place.’

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Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

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