REPORT
The Law Society By Beth Quinn, Key Account Manager, The Law Society Beth Quinn
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here has been much activity at Chancery Lane over the past year and we are pleased to provide updates on much of this work here. PARTY CONFERENCES In the Autumn, the Law Society was represented at the Labour, Conservative and Liberal Democrat party conferences. We hosted a number of events and held various meetings to make the case for our policy priorities with key political stakeholders, including the new lord chancellor, Dominic Raab MP. Our flagship reception, held alongside the Bar Council and Society of Conservative Lawyers, concerned international issues facing the profession and how best to promote our jurisdiction as a global legal centre. This was well attended by party members, MPs and ministers. We also held a fringe panel on levelling up justice, co-hosted with the Bar Council, APPG on legal aid, and Legal Aid Practitioners Group, which saw a lively discussion on access to justice, regional disparity and the rule of law. Law Society president I. Stephanie Boyce met with new Justice Minister James Catlidge and Security Minister Damian Hinds, leading to productive discussions on legal aid, the backlog in the courts and economic crime. Across the conference, alongside rising gas prices and the cost of living, the courts backlog was recognised as one of the major issues facing government. Highlights from the Labour conference were hosting events alongside Shadow Lord Chancellor David Lammy, the Shadow Attorney General Lord Falconer and Shadow Solicitor General Ellie Reeves. Lammy used his speech at one of our events to endorse our call for an independent review body to set legal aid rates. The Liberal Democrat conference was held virtually and attended by our Vice President Lubna Shuja. More information can be found at: www.lawsociety.org.uk/About-us/Join-our-Council-orcommittees/Presidents-update/promoting-england-andwales-as-a-global-legal-centre-at-party-conferences?sc_ camp=EF0D3A16FB1F40E0CE95D51522FEDBFF REGULATION SIF We put out a statement last week that warned that consumers could be left high and dry if the regulator pushes ahead with the discontinuation of post six-year run off cover (PSYROC) and the closure of the Solicitors Indemnity Fund (SIF).
clients, partners and staff once their mandatory six-year run-off period has come to an end. The SRA planned to close the SIF on 30 September in 2021, but we successfully lobbied the solicitors’ regulator to push closure back to 30 September 2022. The SRA is currently seeking views on whether its regulatory arrangements should include PYSROC and what that means for the future of SIF. The SRA’s preferred option is not to continue with PSYROC, claiming that the costs compared to the volume and value of claims outweigh the efficiency of delivering consumer protection. ■ Solicitors want consumers to be protected and one of the things on which the profession prides itself is that it offers a service from highly trained professionals who are adequately and appropriately insured for the rare occasions something goes wrong. ■ The average successful claim from SIF is over £34,000, which is a large amount of money for most people. The consumers who will suffer employed (and employ) solicitors on the reasonable assumption they would have comprehensive protection if something went wrong. ■ Though the SRA are suggesting that this comprehensive protection is removed, they are yet to demonstrate that the removal of PSYROC will have any material impact on the cost of legal services or lead to any improvement in the market for legal services. ■ Solicitors strive to provide the best service, but they also want proper consumer protections should claims arise. It would be in the best interests of consumers and the profession alike to retain the insurance protection that SIF provides. The Law Society will be responding to the consultation in full, following discussions with our members, and having given the matter proper consideration. We believe the SRA could benefit from any further insights that members or former members might see fit to provide. CLIMATE TLS Climate Change Resolution Our Climate Change Resolution has been passed by Council and has now been published.
We made clear our concerns in the wake of the publication of the Solicitors Regulation Authority’s (SRA) consultation on the future of SIF.
By way of background, the resolution is a statement, setting out our commitment to tackling the climate crisis. It also urges our solicitors to commit and act in a way which is consistent with international and national legislative targets on climate change so they may future proof their provision of legal services. The Climate Change Resolution was drafted under the guidance of the Law Society’s Climate Change Working Group assisted by our Climate Change Resources Adviser.
As you know, SIF currently provides supplementary run-off cover for firms that have closed, ensuring ongoing protection for
It is an opportunity for firms to adopt practical measures and policies to reduce the climate impact of their business and
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