Earlier this month, the Solicitors Regulation Authority (SRA) updated its warning notice on the appropriate use of non-disclosure agreements (NDA), creating increased regulatory obligations for lawyers advising on, drafting and negotiating settlement agreements.

The updated warning notice reflects principles set out in existing Acas guidance which applies to anyone involved in settlement agreements. Whilst the warning notice only applies to those regulated by the SRA, i.e., law firms and lawyers (including in-house lawyers), it will be interesting to see whether the changes, which effectively give teeth to certain principles in the guidance as they apply to lawyers, have a wider impact on market practice approach to NDAs in settlement agreements. Failure by lawyers to comply with the SRA warning notice can result in them facing disciplinary action by the SRA for breach of their regulatory obligations.Continue Reading New SRA requirements for dealing with NDAs: Impact on settlement agreements