‘Prepare for closure,’ SRA warns 141 law firms
141 law firms have been warned by the Solicitors Regulation Authority that they are now unable to take on new instructions, and must prepare to close within 60 days.
Having failed to secure professional indemnity cover, the firms are now in the last 60 days of a 90 day Extended Policy Period running from 1 October.
The period lasts for 90 days, the SRA has warned
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