How to be SRA compliant part 3: The 5 common SRA Transparency Rules pitfalls that most SME law firms face and how to overcome them 

The SRA Transparency Rules aim to promote openness and empower consumers to make informed decisions when choosing a legal services provider. However, many SME law firms find themselves falling foul to Transparency Rule pitfalls,, especially when faced with nuanced situations that blur the lines of these rules.

In part 3 of the How to be SRA compliant guide, we’ll explore the most common issues firms encounter with the SRA Transparency Rules and provide actionable strategies to overcome them, ensuring your firm stays compliant and client-focused

For more information, please visit the SRA transparency rules here.

Understanding the four common pitfalls of SRA Transparency Rules compliance

Compliance with the SRA Transparency Rules often seems straightforward, but real-world scenarios present complexities that can trip up even the most diligent law firms. Below, we delve into frequent challenges and provide clear solutions for navigating them effectively.

1. Ambiguity in advertising services

One major compliance challenge is accurately representing the services your firm offers on your website. Firms often unintentionally fall foul of the rules by advertising general expertise while not intending to provide specific services to all clients.

Example:

A firm promoting “comprehensive debt recovery services” may not explicitly state that it only handles debts over £100,000. This could mislead potential clients with smaller claims into assuming the firm can assist them.

Solution:

• Be precise in your service descriptions: Ensure your website clarifies any limitations to the services offered. For example, “We specialise in debt recovery for claims exceeding £100,000” sets the right expectations.
• Review regularly: Ongoing monitoring and audits of your website’s content are essential for ensuring continued compliance. As services evolve or shift, websites must reflect those changes, so scheduling regular checks, ideally as part of a broader marketing or compliance review process, is key to staying on top of this. This can also be built into workflows to ensure designated team members take responsibility for these reviews.

2. Simplifying document management for transparency compliance 

Maintaining up-to-date and accurate documentation is essential for SRA compliance. Osprey Approach simplifies this by providing: 

• Centralised storage for policies and pricing documents: All essential compliance materials, such as complaints handling policies and pricing information, can be securely stored in Osprey and easily accessed for updates. 

• Version control and tracking: This ensures your published documents are current, and you have a clear audit trail to demonstrate compliance. 

• Streamlined workflows for updates: With automated workflows, your team can follow standardised processes to review and publish transparency-related information, ensuring consistency.  

3. Ensuring accurate pricing information is always accessible 

SME law firms often struggle to balance transparency requirements with the bespoke nature of their services, especially when handling bulk instructions or highly tailored cases.

Example:

A firm receiving bulk debt recovery instructions for claims totalling £25 million might believe the rules don’t apply if individual claims exceed £100,000. However, the SRA evaluates compliance based on the firm’s advertised ability to handle smaller claims.

Solution:

• Clarify pricing for typical scenarios: Publish indicative prices for services commonly requested, ensuring compliance without oversimplifying bespoke cases.
• Highlight bespoke arrangements: Make it clear on your website that prices for bulk or highly specialised services are subject to negotiation.

5. Navigating services offered through third-party agreements

Some firms mistakenly believe they are exempt from publishing transparency information if their services are predominantly provided under third-party arrangements.

Example:

A conveyancing firm acting exclusively for lenders might think it doesn’t need to publish pricing, even when agreeing fixed fees with purchasers. The SRA rules clarify that firms must publish information for services marketed to individual clients.

Solution:

• Audit service marketing: If any element of your service is accessible to the public, ensure relevant pricing information is published.
• Update third-party agreements: Review contracts to ensure they align with the transparency requirements.

Staying ahead of SRA Transparency Rules compliance

Compliance with the SRA Transparency Rules is an ongoing process that requires vigilance, regular reviews, and a commitment to transparency. By addressing the common challenges outlined above, SME law firms can ensure they not only meet regulatory expectations but also foster trust and confidence among their clients.

Utilising tools like Osprey Approach to streamline compliance tasks, alongside maintaining open communication with your team, ensures that your firm remains proactive in navigating the evolving regulatory landscape.

Book a consultation to discover how Osprey Approach can help you effectively complete client and matter risk assessments across your teams. 

For further advice and best practices you can view parts one and two of our SRA transparency guides.

Part 1: How to be SRA compliant part 1: a guide to the SRA transparency rules

Part 2: How to be SRA compliant part 2: 4 ways Osprey can help law firms stay compliant with the SRA transparency rules

Disclaimer 

This guide is for informational purposes only and does not constitute legal advice. For detailed guidance on the SRA Transparency Rules, please visit the official Solicitors Regulation Authority website.