Solicitors who act as insolvency practitioners could be ejected from the regulatory control of the Solicitors Regulation Authority (SRA) by 1 November 2015.
The SRA Board decided last week that the SRA will no longer regulate the 129 solicitors currently operating as insolvency practitioners, despite opposition to the proposal from insolvency practitioners during a consultation that closed in January.
Crispin Passmore, SRA executive director, said insolvency practice was “not integral to the services provided by solicitors”, so there was no case for regulation.
