SRA Declaration – High-Volume Claims
Just before Bank Holiday, the SRA published the results of its review into how firms handle high-volume consumer claims which has ‘highlighted significant concerns over poor practice’.
It has also emailed the COLPs of firms which handle high-volume consumer claims with a mandatory declaration to be completed by the managing partner, CEO or equivalent by no later than Friday 3 October 2025.
The information required is set out in a detailed questionnaire and includes annual turnover; types of consumer claims work; number of legally qualified and non-legally-qualified fee earners; referral arrangements; marketing and publicity; client onboarding arrangements; litigation funding agreements; After-the-event insurance, client care, costs information, and advice.
Depending on arrangements, there may be additional information forms to complete e.g. referrer information, ATE insurance provider information.
The SRA estimates that if you have all the information to hand, it will take up to two hours to complete, but says it may take longer if you have multiple types of consumer claims, referrers, ATE insurers etc. Depending on the size and structure of your firm, as the scope of the questions are wide-ranging, the person required to sign the declaration may not have detailed knowledge of all the information so will need to verify it.
Declarations will need to be carefully completed – firms are still being investigated by the SRA for declaring in 2017 that they had a compliant AML firm-wide risk assessment in place at that time.
We strongly recommend that if you have received the declaration you don’t leave it until the last minute to complete, particularly as this is also the time for PII renewal and PC renewals, and the initial form runs to 121 questions over 16 pages, and the additional forms have between 6 and 25 questions.
How Compli can help…
The Compli Solicitor Regulatory and Professional Discipline Team can provide expertise and advice on risk and compliance, AML, disciplinary assistance etc. If we can help in any way, please get in touch at [email protected]