Sunday, June 16, 2013

Which SRA pigeonhole does your firm fit in?

Recent SRA research identifies that different groups of law firms are motivated by different factors and that the regulatory approaches to non-compliance may need to vary depending on which group is being looked at (e.g. whether deliberately non-compliant or unconsciously compliant),however, it does identify in its sample that the most firms are unconsciously non-compliant.

According to the SRA, your firm will fall into one of the following categories :

Unconsciously compliant: those who do not know the rules very well and who unknowingly comply with them (for instance, because they copy other behavior, such as people do in traffic).

Unconsciously non-compliant: those who break the rules because they do not know the rules well.

Spontaneously compliant: those who know the rules and would comply with them off (sic) their own accord, even if (in theory) there were no enforcement whatsoever.

Spontaneously non-compliant: those who know the rules and would always break them spontaneously, regardless of the risk of inspection, the risk of detection, the risk of punishment or the severity of the potential punishment.

Firms deterred by enforcement or calculatingly compliant firms: the firms who know the rules and who would break them, but rather decide against it with a view to enforcement activities.

You might want to read the very detailed report on how the SRA intend to deal with you.

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