Below is a link to a letter to the SRA prepared by Frank Maher of Legal Risk LLP on behalf of Liverpool, Birmingham, Bristol, Leeds, and Manchester Law Societies, known collectively as the Joint V.
Liverpool Law Society’s Regulatory Committee has endorsed the points raised in that letter and elaborated further in our Society’s response to the SRA Consultation document – Consumer protection for post six-year negligence. In summary, whilst the Society welcomes the decision of the SRA Board to preserve the indemnity scheme to provide consumer protection for post six-year negligence and to maintain the same level of cover as currently provided under the existing indemnity fund rules, it is concerning that the SRA has not consulted with the profession about how the scheme would operate going forward, instead electing for a scheme operating under the direct control of the SRA, which does not appear to have been properly thought through.