The firm where three directors were removed from practice by the Solicitors Regulation Authority earlier this month has conceded that it 'will likely be unable to continue in its current format' despite continuing to trade. Axiom Ince revealed earlier this week that it had engaged accountant BDO to investigate following SRA allegations. 

Axiom has now revealed that it is not accepting new instructions while the investigation continues. 

In a statement, a spokesperson for Axiom DWFM, the trading name of Axiom Ince, said: 

'The Solicitors Regulation Authority (SRA) suspended the practising certificates of three partners - Pragnesh Modhwadia, Idnan Liaqat and Shyam Mistry. The firm continues to have ongoing communication and cooperation with the SRA, who confirm that we can continue to operate in the normal course of business.

'We will continue to meet our regulatory and moral duty to act in our clients’ best interests. Therefore, moving forward we will not accept any new instructions. Whilst we will continue to trade as normal in the immediate period, the firm will likely be unable to continue in its current format. This may mean that parts of the firm and teams within the firm may be transferred to different practices to provide continuity of service to clients.

'We are working closely with the SRA to follow its guidance and requests and will continue to do everything we can to protect the firm, our clients and our colleagues.'

Axiom DWM acquired the Ince Group in a pre-pack deal following its administration earlier this year.

 

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