SRA aims to bring maximum fines for law firms closer to the much higher figures for ABSs
Further tensions in the Law Society’s already strained relationship with the Solicitors Regulation Authority (SRA) emerged in January as the representative body prepares to contest its regulatory arm’s attempt to increase its fining powers over law firms.
In a consultation that ends this month, the SRA has invited views on its proposal to increase the current level of fining powers over City and regional firms to as much as £100,000. However, the Law Society said it has ‘concerns over the functioning of the enforcement team within the SRA’.
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