Solicitors Regulation Authority of England and Wales issues first fines of new fixed penalty regime

The Solicitors Regulation Authority (SRA) has issued £750 fines to seven law firms for non-compliance with its transparency rules. This follows similar penalties issued to three firms in November 2023. The SRA introduced fixed penalties to deal with non-complex breaches more efficiently. Firms are given notices of potential fines and the opportunity to rectify the issue, but failure to comply may lead to further penalties of £1,500. The SRA has emphasized the importance of transparency rules, enabling consumers to compare law firms and make informed choices. The SRA also issued its first fixed penalty in December 2023 to a firm failing to submit diversity data.

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