Previously, the SRA could fine firms up to £2,000

Following a consultation last year, the Solicitors Regulation Authority (SRA) has announced details of its plans to update its approach on issuing financial penalties to law firms and solicitors. Its plans include fixed penalties and an increased maximum fine for firms of £25,000.

The aim of the SRA’s consultation was to ensure the SRA takes a robust approach which protects the public; to provide a more appropriate deterrent; and to ensure cases can be resolved much more quickly to reduce costs and stress for all involved.

More than 7,500 people – including the public, profession and representative groups – provided