Regulation and compliance
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News
Solicitors braced for potential changes to client account
SRA planning to open consultation next week in response to consumer protection review.
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SRA chair says Axiom Ince issues are 'history for us'
Chief executive Paul Philip admits Axiom Ince debacle ‘damaged trust’ – but not as badly as the Post Office scandal.
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Professional bodies should regulate legal AI, say lawyers
More than two thirds of lawyers say bodies such as the Law Society and Bar Council should be responsible for technology.
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Probe into SSB collapse slips into next year
Cases 'raise wider issues about whether the bulk litigation market is working as well for the public as it should be', says SRA.
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In depth: Axiom Ince report makes grim reading for defiant SRA
Last week’s report into the SRA’s actions before shutting down Axiom Ince is a catalogue of omissions and missed opportunities. Will an aggressively expansionist – and unrepentant – regulator choose to learn any lessons?
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No evidence of racial bias in SRA enforcement process
Regulator says academic research confirms that ethnicity is a 'consistent predictive factor' in enforcement.
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Ban for ex-Axiom Ince employee who transferred £54.5m from bank account
SRA also imposes section 43 order on a second employee, for doctoring bank statements and misleading forensic investigators.
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Litigation funding regulation back in spotlight as CJC publishes review
Hotly awaited interim report sets out questions for comprehensive review of the sector.
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Ombudsman seeks 10.2% budget rise next year
Legal Ombudsman's Office says it is 'consistently resolving 25% more complaints than in the past'.
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Online legal advice service dropped by challenger bank after SRA opens probe
Zempler Bank confirms that the LawBite service is no longer available to its customers.
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Axiom Ince report: What the SRA knew - and what it failed to do
In its response, the SRA seizes on one sentence of praise in an 11-page summary. The rest details a catalogue of failures.
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Axiom Ince: SRA botched previous investigation
Forensic investigators were not required to check client account balances with bank, independent review reveals.
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'A lot in the report that we don’t agree with' - SRA statement in full
Regulator’s response to Legal Services Board’s review of events leading up to the intervention into Axiom Ince.
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'LSB must insist the SRA puts its house in order': Law Society statement in full
Atkinson: 'A vivid picture of the SRA’s inadequate and ineffective handling of Axiom'.
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Axiom Ince - SRA faces enforcement action
LSB finds regulator 'did not act adequately, effectively and efficiently' in 2023 collapse, causing 'significant consumer detriment'. The SRA disagrees.
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In depth: Freemarket thinktank calls for class action curbs
UK plc stands to suffer ‘enormous damage’ from an ever-expanding class action regime, says the Adam Smith Institute. Counterintuitively, the free-market thinktank wants more regulation – and legal aid.
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Mayfair firm shut down by SRA after four fines in a year
Ross & Co subject to intervention over allegations of dishonesty.
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SRA fines firm 2% of turnover after AML spot-check
Stafford firm said risk assessments had previously been carried out on an ‘informal basis’.
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Most lawyers are positive about the SRA - says the SRA
Poll also finds politicians are highly sceptical about the solicitors' regulator - if they have heard of it in the first place.
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Axiom Ince and Post Office prosecutions set for 2025
Tribunal gives the steer that high-profile cases are being brought imminently by Solicitors Regulation Authority.