Smedley calls for SRA group to police City firms
City law firms should be policed by a specialised division of the Solicitors Regulation Authority (SRA), according to a high-profile report commissioned by the Law Society. The review, conducted by Nicholas Smedley, a former senior civil servant from the Ministry of Justice, has recommended the creation of a Corporate Regulation Group at the SRA.The new group, established as a quasi-autonomous part of the SRA, would consist of senior figures from the world of commerce and corporate law. It would be headed up by a group director overseeing account managers each holding portfolios covering approximately five firms.
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