The Solicitors Regulation Authority has said it is intervening into more ‘multi-office’ firms as it reports a spike in the number of firms it has shut down.
Papers from the SRA’s latest board meeting reveal that there has been a ‘sharp rise’ in the number of interventions. The regulator made 20 interventions between January and May this year, double the number in the same period last year.
Richard Collins, the SRA’s executive director for strategic planning and performance, said there had been an increase in interventions into more medium sized firms.
In recent weeks the SRA shut down City firm Neumans. According to its website, the firm has 35 lawyers, specialises in serious crime and extradition and also has an office in Manchester. Earlier this month it also shut down Wills Chandler Beach which has offices in Hook and Fleet in Hampshire.
Crispin Passmore, executive director for policy, denied there was a trend to be gleaned from the increase saying that overall interventions had been declining year on year.