Chair John Gould has been quoted in an article from Law 360 discussing the Solicitors Regulation Authority (SRA) decision to drop plans for fines based on global turnover. John acknowledged the move as a positive step but questioned whether revenue-based fines are a fair or effective deterrent.
It is time to ask whether revenue-based fines influence behaviours and systems toward a proportionate approach in the best interests of clients or whether they serve to minimise the consequences for the low-revenue firms who are more likely to generate problems.
The full article is available to read online from Law 360, available by subscription.
About John
John Gould is Chair of Russell-Cooke and partner in the regulation and public law team. He advises regulators, government departments, law enforcement agencies, charities and statutory & professional bodies in connection with complex regulatory issues.
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