SRA releases Brexit guidance to firms

The Solicitors Regulation Authority (SRA) has published a report on the possible impact of Brexit on law firms.

As well as setting out some of the possible consequences for the legal profession as the United Kingdom prepares to negotiate on the nature of its future relationship with the European Union, the report includes a checklist of factors for firms to consider over the months and years ahead. The report, ‘Exiting Europe: an update for lawyers’ is available to read on the SRA’s website.

Paul Philip, the SRA’s chief executive, said: “It is, of course, too early to draw any firm conclusions about the implications on the legal sector of a British exit from the European Union. We have been clear that there are no immediate regulatory changes. But it is important that both we and law firms monitor what is happening and make sure we understand the possible consequences. This report is the start of an ongoing dialogue about some of the issues and risks we - and the profession - may need to consider.”