Increase in-house legal execs
There has been an increase in the number of in-house solicitors, according to figures from the Solicitors’ Regulation Authority (SRA).
The latest report shows there are now 26,000 solicitors working internally at companies – nearly double the amount recorded in 2000, accounting for 18 per cent of the overall solicitor work population.
In particular, there has been a growth of legal professionals working within the financial industry as increased compliance and auditing measures require appropriately skilled workers to ensure firms are taking the appropriate precautions.
Richard Collins, executive director of the SRA, said: “The in-house sector continues to thrive, grow and develop and it is important to ensure that regulation in this sector remains relevant, effective and proportionate.”
He added many solicitors working in the industry are increasingly facing challenges to balance their firm’s decisions with professional obligations.
The SRA is an independent regulatory body created by the Law Society to oversee the UK industry.
Corporate legal jobs at Barclay Simpson.