It is a mark of how far the SRA has come in its journey, to recall that in 2009, when issuing guidance on the introduction of alternative business structures, they warned firms against jumping the gun.
Now the SRA have used their own ‘Innovate’ safe space to approve arrangements in advance of changes to the rules which they are seeking to make and which will require the approval of the Legal Services Board. In the proposed rule change, they plan to allow unregulated entities to employ solicitors to provide legal services to the public. This controversial proposal has yet to be approved, let alone written into the SRA Handbook. But in the meantime, the SRA has allowed at least two unregulated entities to take advantage of its ‘safe space’ to employ solicitors to provide legal services to the public.
Firms seeking to innovate may want to take advantage of the SRA’s ‘safe space’. We have advised and represented a number of legal services providers, including disruptors, in discussions with the SRA; contact [email protected].
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