Changes to CQS accreditation

Changes to CQS accreditation
The Law Society are introducing some changes to CQS.

The re-accreditation  process will change, as will elements of the mandatory training as well as how the CQS team monitor and assess firms within the scheme.

There will be no change to the length of your accreditation and CQS will continue to be awarded for a period of 12 months.

CQS Changes

SRA Handbook Version 15 changes 1 Nov 2015

1 November 2015

The fifteenth version of the Handbook was published on 1 November 2015, and all the changes in this version came into effect on that date. The changes are outlined in these notes: please refer to the Handbook itself for full details.

The main changes are to SRA Accounts Rules, Sole Practitioners Authorisation and Consumer Credit Activities extension of the transitional period which will now run until 31 March 2016.

Changes to SRA Handbook Release 15 1 Nov 2015

SRA Exemption from Accountant’s Report

Following approval by the Legal Services Board, from 1 November 2015, some firms will be exempt from the requirement to obtain an accountant’s report.

The exemption will apply where during the accounting period the average balance on client account does not exceed £10,000 and the maximum in each balance does not exceed £250,000.

Exemption Criteria

SRA Guidance Accountants Report

Crispin Passmore, SRA Executive Director for Policy, said: “This is the second phase of a project aimed at making our regulation more proportionate and targeted. The changes continue our work to remove the obligation for firms deemed low risk to go through the reporting process.

“For those firms that still have the obligation to obtain a report, the changes strengthen the reports by giving accountants more scope to advise firms on how they handle client money. That will help clients and build confidence in law firms. We’ve published the guidance to help firms and their accountants get the most out of the changes we’ve made.”

SRA Guidance

A Question of Trust from SRA

Paul Philip (SRA CEO) describes the ‘Question of Trust’ (QoT) campaign as about finding the “right balance” when making regulatory decisions, framed as part of a wider programme of reform on the theme of professionalism.

Stephen Vaughan, Senior Lecturer in Law at University of Birmingham, has some interesting comments.

A question of Trust reflections

SRA tells solicitors: explain your separate business set-up

Firms will also be allowed to refer cases to the separate business with which they are attached, but only if it is in the client’s best interests.

The client’s consent to waving their confidentiality ‘must be clear and they cannot be forced to do so’, the guidance states. This request to waive confidentiality must be clear and separate to any other terms.

Law Gazette

Bar Direct Access Portal

 

The Direct Access Portal is the Bar Council’s latest development in attracting Direct Access

Alistair MacDonald, QC, chairman of the Bar, described the latest online offering as having “revolutionised” the direct access model. He said: “It used to be that the only way you could benefit from the services of a barrister was through a solicitor. Now, in many instances, you can keep costs down by going directly to a barrister.”

 

The Law Society, which represents the 150,000 solicitors in England and Wales, was brief in its response to the Bar’s attack. A spokesman said simply: “Solicitors provide vital support to clients in contentious matters. While clients can instruct barristers directly and have been able to do for some time, solicitors provide a wider range of services, which is why many clients choose to instruct a solicitor first.”

CQS 3000 firms and Small Business Division

Jonathan Smithers, president of the Law Society, delivered a speech at the International Bar Association (IBA) conference in Vienna.

“We have also introduced various accreditation schemes relating to specific practice areas to enable our members to differentiate themselves in the market.

Our Wills and Inheritance Quality Scheme, for example, aims to boost the competitiveness of qualified lawyers in the will writing market by assuring consumers of highest standards of delivery and client centred services.

Our Conveyancing Quality Scheme, which has some 3000 member firms, has captured the market’s imagination and helped to satisfy the concerns of major lenders in the residential property arena, leading to their decision to keep firms of all sizes on their panels.

This was a crucial exercise for the Law Society as it enabled us to support, promote and represent small firms to mighty commercial lenders, whereas previously the inequality of bargaining position made their position untenable.

We have also established a Small Firms Division so that we can bring together solicitors to share best practice and address current issues and challenges in a supportive environment.”

Changes to the Law Society’s Conveyancing Quality Scheme (CQS) accreditation process

President of the Law Society Jonathan Smithers said:

‘We are pleased to announce these improvements. CQS is a valuable quality mark for firms which helps them to stand out from the competition, gain access to several lender panels, and demonstrate to clients that they follow best practice, and meet the highest standards of technical expertise and client service.

‘The revisions will streamline the administration of the scheme, saving time and resources for our members. Just as importantly they will ensure that the rigour of the application process remains, and ensure that there is robust monitoring of firms within the scheme.’

Speeding up CQS Applications

Proposals for consumer credit regulation adopted by SRA Board

The SRA Board approved on 9th September 2015 that there is no need for solicitors to be regulated by the Financial Conduct Authority (FCA) and are not over-burdened with significant additional rules for consumer credit, and that their client protections remain in place.

SRA Consumer Credit