The reformed rule will allow solicitors to set up separate businesses providing unregulated services, so long as consumers are properly informed.
The current prohibitions in the Code of Conduct will be removed and new outcomes introduced to protect consumers. The SRA said the changes could be implemented as early as 1 November this year.
“There will still be a separate business rule,” said Crispin Passmore, SRA executive director for regulation and education. “Solicitors will have to make sure they don’t mislead clients and clients understand what they’re doing.
“Consumers can already choose unregulated legal services. This is simply about whether solicitors can own and manage them.
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