Regulation & Government

Leading bodies warn SRA to not ditch Solicitors Indemnity Fund

The SIF currently provides supplementary run-off cover for firms that have closed, ensuring ongoing long-term protection for clients

The Legal Services Consumer Panel (LSCP) and the Law Society of England and Wales have come together to oppose plans by the Solicitors Regulation Authority (SRA) to reportedly weaken consumer protection.  

It comes as the SRA is reportedly planning to lose the Solicitors Indemnity Fund (SIF), which would “effectively end this long-term protection with nothing to replace it”, according to the LSCP and Law Society.

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