All Regulation and compliance articles – Page 10
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NewsIn 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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NewsNo 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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NewsBan 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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NewsLitigation 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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NewsOmbudsman 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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OpinionSRA must accept need for radical change in light of Axiom report
Axiom report should be a wake-up call to the regulator to focus on its core role to serve the public interest and protect consumers from rogue individuals.
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NewsOnline 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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NewsAxiom 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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NewsAxiom Ince: SRA botched previous investigation
Forensic investigators were not required to check client account balances with bank, independent review reveals.
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OpinionHubris, nemesis: it’s time for the SRA to stop empire-building and rebuild trust
The long-awaited report on the SRA’s handling of Axiom Ince ahead of the firm’s closure is lacerating.
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News'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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News'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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NewsAxiom 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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NewsIn 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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FeatureDecisions and interventions
Decisions filed recently with the Law Society (which may be subject to appeal).
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NewsMayfair firm shut down by SRA after four fines in a year
Ross & Co subject to intervention over allegations of dishonesty.
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NewsSRA 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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NewsMost 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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NewsAxiom Ince and Post Office prosecutions set for 2025
Tribunal gives the steer that high-profile cases are being brought imminently by Solicitors Regulation Authority.
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OpinionSRA financial penalties consultation: why propose the unlawful?
The regulator needs to accept its proposals are flawed and drop them, without further delay.