The Solicitors Regulation Authority (SRA) this week launched its “biggest-ever consultation” as the body moves to radically overhaul the Solicitors’ Code of Conduct to cope with legal services reform.

The move is being billed by the SRA as part of a “once in a generation” shake-up which will focus on the regulation of activities and firms that carry the greatest risk to clients – a stance that is claimed will grant more freedom to firms with strong governance records.