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Let me get this straight...

The firm made a mistake. They admitted the mistake in open correspondence. They informed the client of his right to seek alternate advice as a result. They involved Counsel and their PII. They waived all fees and incurred significant costs. They took all reasonable steps to put the matter right.

To anyone but the SRA, this firm went above and beyond to try and fix their mistake and put the client in a better position than they had (by their own admission) left him in.

Yet the SRA takes issue with this perfectly well-intentioned and appropriate course of action.

They would rather the firm have dumped the client then and there, leaving him to try and find another firm with a hearing coming up shortly. They would rather that firm have to jump over considerable hurdles to properly mitigate the position on behalf of their client, in order for him to fully sue HJ later on if they couldn't succeed in the index issue.

Once again, the SRA show exactly why they are not fit for purpose. With such a vindictive regulator, COLPs up and down the country should be having serious thoughts about switching to the BSB.