In addition to the regulation of individuals, the Solicitors Regulation Authority (SRA) regulates all solicitor entities providing legal services. Therefore, all solicitors need to be aware of the additional requirements upon the firm or other entity within which they practise.
The Law Society has issued updated guidance for all solicitors, which includes detailed advice on:
the principle of firm or entity-based regulation;
the role of the SRA; and
information about business management considerations.