We may be in an era of outcomes-focused regulation, but nobody thought to tell those who drew up the deal between the Law Society and Solicitors Regulation Authority (SRA) over their governance arrangements.
It goes into exhaustive detail about what exactly should go into the SRA’s annual report to the Law Society council (how many sections, what their titles should be, what should be in each one and so on) as well as the quarterly reports to the new business and oversight board which will be tasked with keeping a beady eye on the SRA and divvying up shared services. Such is the level of trust between the two bodies.
