The Solicitors Regulation Authority (SRA) has launched two new consultations in preparation for the next round of reforms under the Legal Services Act (LSA).

The first consultation will seek opinion on fundamental changes to the SRA's regulatory activities, which will see the body develop a firm-based approach to enforcement and disciplinary action, in contrast to the current process of focusing on individual solicitors.

Key LSA reforms are due to come into force in March which will give the SRA new regulatory powers allowing the watchdog to regulate Legal Disciplinary Partnerships (LDPs) containing up to 25% non-lawyer partners.

The SRA's website now contains application forms for firms that wish to set up LDPs from March onwards.

The second consultation covers what information the SRA will require from firms at the annual practising certificate renewal exercise, such as details of turnover, work types, number of non-solicitor fee earners and the number of negligence claims. The information will be used to develop a new fee strategy for 2010 onwards and also help in risk assessment.

SRA chief executive Antony Townsend said: "The new regulatory regime under the LSA will be with us in a matter of weeks. The firm-based approach to regulation represents a fundamental shift in the way we will regulate. Although we will still take disciplinary action against individual solicitors who breach the rules, we believe that firms have a responsibility to ensure compliance through effective management, and in many cases it will be more effective and proportionate to take action against a firm.

He added: "We need improved data on firms in order to develop a better risk-based approach to regulation. We are keen to work with the profession in a co-operative way to improve regulation."