SRA urged to retain core compensation fund in all reforms

By Marialuisa Taddia (August 31, 2022, 8:55 p.m. BST) – The Law Society on Wednesday urged regulators to focus on consumer protection as they consider ways to maintain a funding mechanism that shields lawyers from negligence claims customer history.

The trade body has weighed in on the consultation the Solicitors Regulatory Authority is carrying out on different ways to reform the fund after a last-minute reprieve kept it up. Law Society President I. Stephanie Boyce said Wednesday she welcomes “the evolution of the SRA’s position” on the issue.

The Lawyers’ Compensation Fund protects lawyers from negligence claims against them arising from work in law firms that have since gone bankrupt without…

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