Our response to the SRA consultation on SIF
The following link is the national law society’s response to the SRA’s consultation on the future of SIF and PSYROC, which we submitted earlier this week. The link takes you to the relevant page on our website, which includes a summary of the consultation, and its implications for the profession and the public: https://www.lawsociety.org.uk/campaigns/consultation-responses/sra-post-six-year-run-off-cover-and-solicitors-indemnity-fund
The SRA will consider responses and we expect it to announce its decision in the spring. If the SRA decides that, having considered the matter further, it would be better to retain the SIF for the ongoing provision of PSYROC then we would offer our enthusiastic support. However, if it presses ahead with the closure of SIF, we will be forced to consider other options. We will remain active in the pursuit of a solution that will protect the interests of the profession, consumers, and the public at large.
Thank you very much for all your input and support!