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News

SRA to give some firms relationship managers

updated on 28 October 2011

The SRA has announced plans to assign "relationship managers" to some of the United Kingdom's biggest firms.

According to Legal Week, the regulatory body is planning to give firms above a certain size their own relationship manager to identify and address risk under the new outcomes-focused regulation regime. Firms will be assessed and scored depending on their potential impact on the SRA's objectives, with those that are considered "high risk" to be assigned a relationship manager.

The SRA has been running a year-long pilot to evaluate its new policy, which has involved 19 firms. SRA relationship manager Suchitra Hammond said: "The feedback from all firms was overwhelmingly positive. They saw relationship management as an appropriate alternative to our previous engagement processes, which was evident from the way in which they engaged with us as part of the pilot."