CLC respond to the SRA consultation on PII
Director of External Relations at the CLC, Stephen Ward, shares his thoughts on the latest consultation and welcomes the proposed changes.
In response to the latest announcement from the Solicitors Regulation Authority (SRA) regarding a consultation on a proposal to change the rules on professional indemnity insurance (PII) when switching regulators, Stephen Ward, Director of External Relations at the Council for Licensed Conveyancers (CLC) said:
“The CLC very much welcomes today’s announcement by the SRA that it is consulting on removing obstacles to firms choosing the most appropriate regulator for their business. The barrier put in place by aspects of professional indemnity requirements for firms leaving SRA regulation but continuing to trade under a different regulatory regime have had an anti-competitive effect and hindered the ability of specialist law firms to innovate. We hope that this issue will be settled quickly following the end of the consultation period.”
This article was submitted to be published by Council for Licensed Conveyancers as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.