Hot topic: Fast-track ABSs
The SRA has announced that it is gearing up to fast-track ABS applications from criminal legal aid firms if its appeal against government reforms is…
The SRA announced this week that it is gearing up to fast-track ABS applications from criminal legal aid firms if the pending appeal against the government's reforms is unsuccessful.
We discussed this issue with Michael Black, Lead Compliance Consultant at Compli, as part of the '60 seconds with...' feature for this week's newsletter:
Michael, what do you think about the SRA's plans?
It is a sensible approach and nice to see the SRA making contingency plans! Facing the regulator will not only be capacity issues, but the challenge of balancing the proper vetting of applicants with the promotion of access to justice. Provided it can quickly assess applications, the plan should be effective and reduce the risk of advice deserts.
Remember that we assist firms converting to ABS. Whether you are struggling with the SRA or do not know where to start with the process, please get in touch.