A regulated practice is a law firm licensed by the Solicitors Regulation Authority (SRA). If a practice is regulated by the SRA, it must abide by a set of rules and principles to ensure the interests of the legal consumer are protected at all times. The law firm must pay a registration fee to the SRA and hold at least £3 million of professional indemnity insurance. A regulated practice can undertake any type of legal matter while providing clients with the peace of mind granted by SRA regulation.
Why choose a regulated practice?
Parliament determined six areas of legal activity that must be practised in a regulated capacity:
- the exercise of rights of audience (i.e. appearing as an advocate before a court);
- the conduct of litigation (i.e. managing a case through its court processes);
- reserved instrument activities (i.e. dealing with the transfer of land or property under specific legal provisions);
- probate activities (i.e. handling probate matters for clients);
- notarial activities (i.e. work governed by the Public Notaries Act 1801); and
- the administration of oaths (i.e. taking oaths, swearing affidavits etc.).
These matters require specialist attention and intensive legal training, and as a result, can only be practised by a regulated firm of Solicitors. The decision you make will depend on your circumstances and the nature of your legal issue – if it falls into one of these reserved matter categories, only a regulated law firm can provide advice and representation.
However, even if your issue is not listed as reserved, but you want to ensure your interests are protected throughout your case, choosing a regulated practice will provide an extra layer of security from a financial standpoint.
The decision of whether you instruct us on a regulated or unregulated basis will depend on your circumstances and the nature of your legal issue – if it falls into one of these categories, only a regulated law firm can provide the appropriate advice, protection and representation.
For more information on this service, visit 360 Law Services, or contact us using the phone number or form below.