Proposals to create a specialist division to police City law firms would cost the profession an estimated £3m in additional expenses to run. Commenting on the publication of his report on the regulation of corporate law firms, Nicholas Smedley put the £3m estimate on his key proposal - the creation of a new City division of the Solicitors Regulation Authority (SRA).Smedley, a former senior civil servant who was commissioned by the Law Society to review legal regulation, has called for the creation of a new Corporate Regulation Group at the SRA, which would be staffed by experienced City professionals.
March 26, 2009 at 11:43 AM
1 minute read
The original version of this story was published on Legalweek
Proposals to create a specialist division to police City law firms would cost the profession an estimated £3m in additional expenses to run.
Commenting on the publication of his report on the regulation of corporate law firms, Nicholas Smedley put the £3m estimate on his key proposal – the creation of a new City division of the Solicitors Regulation Authority (SRA).
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