Solicitors will pay £30 less and firms will pay £530 less towards the Compensation Fund next year
The reductions, from £90 to £60, and from £1,680 to £1,150, are subject to final Solicitors Regulation Authority (SRA) Board and Legal Services Board approval. The Compensation Fund pays money to those who have lost money due to poor behaviour by a solicitor. Paul Philip, SRA chief executive, said there had been ‘fewer than expected interventions over the last year or so’.
