Welcome

Following the consultation on closure of SIF and the series of consultation meetings held including one arranged by the Yorkshire Union with Council Members David Barraclough and Mark Newby - the SRA have now  followed through agreeing to provide the cover through a scheme to be operated by the SRA .

The SRA confirmed that :

The changes will make post six-year protection part of our regulatory arrangements and make sure appropriate oversight and governance of the scheme. The changes will also reduce SIF’s running costs, meaning more money will be available for the fund's core purpose of settling claims.

We have confirmed we do not expect to levy the profession to obtain more funds for the scheme in the near future. We might though at a later date need to consult on options for the fund's long-term financial arrangements.