The Solicitors Regulation Authority has today signalled that it is still keen to take control of legal executives – but is remaining tight-lipped on whether it can provide assurance that CILEX members will not have to foot any part of a potential Axiom Ince compensation bill.
The SRA board met last week to discuss responses to its consultation on regulating CILEX members.
In a blog today, SRA board chair Anna Bradley said: ‘We have been open to this idea because we see potential consumer benefits. For instance, it could make the regulatory landscape easier to navigate and provide more consistent levels of protection and information for the public. That view was supported by a survey we carried out with consumers, who clearly found the current regulatory situation bamboozling and thought any simplification made sense.
‘Other responses to our consultation were less supportive, with solicitors' representatives in particular, concerned this change risked diluting the solicitor brand. Some didn't agree that it would reduce consumer confusion.’
Bradley acknowledged that CILEX has ‘further questions about our approach in a range of areas, including asking whether we could regulate paralegal and student members of their profession from the outset’.
CILEX has requested assurances in relation to the Axiom Ince compensation bill and future of compensation fund arrangements more generally - but these are not mentioned in today's blog.
Bradley sad: ‘Our board agreed that we remain interested in regulating CILEX members, but it is clear that further work needs to be done in some areas before final decisions can be taken. In particular, we now need to develop and consult on arrangements to regulate CILEX paralegals and students. This will also afford some time to consider how best to deliver the consumer benefits of regulatory simplification and avoid any potential consumer confusion.’
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