The future of cross-border and international regulation -
Update
Following discussions with a number of Scottish practices who
operate south of the border (or internationally), the Society has
issued a response to the recent SRA consultation paper "The
Regulation of International Practice". A copy of the
consultation paper can be downloaded from Solicitors
Regulation Authority - Consultation: The regulation of
international practice. A copy of the Society's response can be
downloaded from Related Files on the right.
The Society has also met with senior representatives of the SRA
with a view to seeking to agree interim solutions to some of the
difficulties currently being experienced by Anglo/Scottish "cross
border" practices. We have agreed to work towards a new
Memorandum of Understanding setting out agreed policy and procedure
on the minimisation of regulatory overlap and how to deal with
potential conflicting regulation, streamline (and where possible
harmonise) requirements for firms in areas like financial
compliance, conflict of interest, professional indemnity insurance
and dual qualification.
Work is ongoing and we will update you as matters progress.
In the meantime, if you would like further information or to
raise any issues for consideration please contact:
Samantha Hollywood
Regulatory Projects Consultant
samanthahollywood@lawscot.org.uk
DDI: 0131 226 8890