In the second blog in this series, we referred to the cooperating and reporting obligations in the new Codes of Conduct being notably different, when compared to corresponding provisions in the 2011 Code of Conduct and to other rules and regulations in the 2011 Handbook.
In November 2015, the Solicitors Regulation Authority (SRA) published its position paper “Looking to the Future”, through which it committed to a phased review of the SRA Handbook and its overall approach to regulation. It was also at this stage that a new regulatory model, with two distinct strands, was first proposed. This model sought, on the one hand, to regulate individuals through education and entry standards, on-going competence and ethical behaviours. On the other hand, it sought to regulate firms, with emphasis being on their systems and controls.