Solicitors Regulation Authority (SRA)

The Solicitors Regulation Authority (SRA) is the independent regulatory body for solicitors and law firms in England and Wales. It is responsible for ensuring that legal professionals uphold high standards of ethics, competence, and integrity in the delivery of legal services.

What the SRA Regulates

The SRA regulates:

• Solicitors and registered European lawyers practising in England and Wales
• Legal executives and other non-solicitor professionals in certain roles
• Law firms, including ABSs (Alternative Business Structures)

Responsibilities of the SRA

The SRA is tasked with:

• Setting and enforcing rules on conduct, ethics, and competence
• Regulating how solicitors handle client money through the SRA Accounts Rules
• Investigating misconduct and taking disciplinary action
• Authorising individuals and entities to provide legal services

Key Documents and Rules

• SRA Standards and Regulations: The core regulatory framework for solicitors
• SRA Accounts Rules: These govern how solicitors must handle and account for client money, ensuring transparency, segregation, and proper record-keeping

Examples and Use Cases

• A solicitor who fails to account properly for client funds is investigated by the SRA and may face disciplinary measures.
• A firm must comply with SRA requirements for protecting client money, including holding funds in separate, designated client accounts.

Mini-FAQ

Is the SRA the same as the Law Society?
No. The Law Society is the representative body for solicitors; the SRA is the independent regulator.

Can the SRA take disciplinary action?
Yes. The SRA can impose fines, impose conditions on practice, suspend practising certificates, or refer serious matters to the Solicitors Disciplinary Tribunal.

How does the SRA protect the public?
By regulating conduct, setting rules for handling client money, and ensuring legal services are delivered to high ethical and professional standards.