The Metropolitan Police has received a referral from the Solicitors Regulation Authority regarding embattled national firm Axiom Ince, the force has confirmed.

On Tuesday, SRA chief executive Paul Philip defended the regulator over checks made to the growing firm, where a £64m hole appeared in the client account. It has since emerged that the SRA has contacted the Metropolitan Police.

Metropolitan Police sign

Source: iStock

A Metropolitan Police spokesperson said: ‘We are aware of a report made by the Solicitor Regulation Authority. Detectives from the Met’s Specialist Crime have launched an investigation and enquiries are ongoing. No arrests have been made.’

A spokesperson for the SRA said: ‘As well as intervening into the practice, we are liaising with relevant law enforcement authorities in relation to this case.’