The Solicitors Regulation Authority (SRA) intensifies its focus on transparency within legal services, affecting nearly 500 firms.
- Since May 2023, 439 warnings and 36 fines were issued by the SRA for non-compliance with transparency rules.
- Law firms are mandated to update their websites to reflect accurate pricing and service details.
- A new voluntary code for comparison websites has been launched to ensure independent and clear information.
- SRA’s transparency drive aims to build trust and empower consumers to make informed legal choices.
The Solicitors Regulation Authority (SRA) has taken decisive steps to enhance transparency in the legal sector, significantly impacting close to 500 law firms. Since May 2023, the regulator has identified compliance issues with transparency rules, resulting in the issuance of 439 official warnings and 36 fixed penalty fines.
Firms have been required to ensure their websites accurately reflect pricing and service offerings, a move aimed at fostering trust and clarity between legal service providers and consumers. In response, over 500 firm websites have updated their information to meet these new standards.
To support this initiative, the SRA has introduced a voluntary code for price comparison websites, intended to maintain independence and transparency. These websites must provide upfront information about their commercial relationships with law firms and adhere to ethical review publication guidelines.
Paul Philip, Chief Executive of the SRA, emphasised the importance of transparency, stating, ‘Transparency is a key aspect of trust in legal services. By providing clear, accessible pricing information, firms not only comply with regulations but also empower consumers to make informed choices.’
The SRA requires firms to display specific price and service information, with the possibility of expanding these requirements in the future. Comparatively, CILEx Regulation has set a precedent by seeking complete price disclosures from its firms, a move the SRA is closely monitoring.
Ensuring transparency through these measures not only aligns with regulatory compliance but also highlights the business advantages for legal firms, strengthening client relationships.
The SRA’s vigorous enforcement of transparency rules underscores its commitment to enhancing consumer trust and informed decision-making within legal services.
