SRA continues to push innovation agenda for solicitors profession

The Solicitors Regulation Authority (SRA) has continued to push its innovation agenda by stating that it wants to reduce the time that it takes for firms to implement new ideas for legal services.

The SRA has been a driving force for changing the solicitors’ profession in recent years, including the introduction of the new ‘equivalent means’ and apprenticeship routes to qualifying as a solicitor, and it is currently considering the introduction of a new ‘super exam’ that all solicitors would have to pass in order to qualify. Now it has outlined its desire to do more to make the solicitors profession more open, accessible and competitive at the recent SRA Innovate conference in London, where investors welcomed regulatory changes which have made investment opportunities in the legal services market more attractive.

It is as yet unclear what those new innovations might be, but they will likely be tied to the government’s proposals to make legal regulators more independent – a position that the SRA has embraced. Paul Philip, the SRA’s chief executive, said: “We have a key part to play in developing the legal market, ensuring it is open, competitive and accessible. Innovation can help law firms to be more competitive in a market already worth more than £25 billion to the UK economy. Many firms are innovating, which is good for them and for UK PLC. And of course the real winners will be users of legal services, such as our important small businesses, through greater choice of affordable services. We want to say yes to innovation – hence the reason for our SRA Innovate service. I would urge law firms to get involved and explore the potential to do more, or do things differently, or both."