The Solicitors Regulation Authority (SRA) has made available new and updated resources that provide law firms with a means of ensuring the information they give their service users is complete and concise. By using SRA’s guidelines and taking advantage of the resources they are offering, your firm will be able to make informed decisions ahead of time while gaining access to essential legal support.

An SRA report announcing the publication of the new transparency rules material stated that, since 2023, the regulator had issued over 400 fines and warnings relating to breaches in this area.

The SRA: “Our research along with findings from others has consistently found that the easier the public find it to access key information on the services law firms offer, including on costs and the customer experiences of others, the more likely they are to seek professional support when they have a legal need.”

“To further support law firms in making sure this continues to happen, we have issued updates to guidance and support first published when our transparency rules were launched in 2018. This includes new, even more accessible pricing templates, that are compliant with our requirements and firms can easily adapt for use on their own websites.”

“Since May 2023 we have issued 439 official warnings, and 36 fixed penalty fines, to law firms in relation to its transparency rules. These actions largely result from the SRA’s ongoing proactive checking of firm websites and asking firms to complete declarations that they are compliant with the rules, work which has directly resulted in changes being made to over 500 previously non-compliant sites.”

Following a previously announced pilot scheme, the regulator implemented a new voluntary code for comparison websites in collaboration with the Council for Licensed Conveyancers (CLC) and CILEx Regulation. The code ensures tools are transparent about commercial relationships and provide relevant information on legal service providers. Also offered will be opportunities to give feedback through transparent review processes.

In supporting the launch of the code, the Solicitors Regulation Authority updated its guidance to law firms dealing with review websites and customer reviews.

To achieve this, the regulator worked in conjunction with CLC and CILEx Regulation on a year-long pilot to explore the use of quality indicators and comparison websites within the legal market in 2021. The pilot aimed to test how comparison websites and quality indicators could work together for the benefit of both firms and their clients.

While it is true that customer reviews and comparison websites help the public choose legal services providers, the results from the pilot revealed there remained significant problems in making reliable information on services more accessible to the public.

However, the new array of resources and support guides from the SRA aims to support firms in providing approachable and accessible information, thus helping consumers make informed choices on the services they choose and pay for.

‘Transparency is a key aspect of trust in legal services. By providing clear, accessible pricing information, firms not only comply with regulations but also empower consumers to make informed choices. Our new resources aim to help firms realise the tangible business benefits of transparency and the positive impact it can have on their client relationships,’ Paul Philip, Chief Executive of the SRA, said.

For more information on the SRA’s Transparency Rules and the resources available, read the guidance here.

You can also read more information on comparison here, along with guidance on the rules, the clickable logo, and dealing with complaints.

Read the full report below:

www.sra.org.uk/updated-transparency

Compliance Solutions for Solicitors

At the Regulation & Compliance Office, we work with firms on a range of risk and compliance matters, providing essential support and robust risk and compliance strategies that will include price transparency.

Price Transparency Review – RACO’s compliance team will review your website and provide you with a written report that:

• Highlights any issues you may have.
• Advises on the actions to take to rectify any errors.
• Provides a technical follow-up call to discuss the findings and recommendations.
• We can also work with you to implement the changes as an additional service if required.

RACO: Expert Legal Advice

For more information on the Regulation & Compliance Office and how we can assist in accelerating your risk management, compliance and regulation, call us on 

0203 985 8550 or email us at info@regulationandcomplianceoffice.co.uk