SRA Failures: Planning for the Aftermath
The recent Solicitors Regulation Authority (SRA) disasters, such as the collapses of Axiom Ince and SSB Law, have been well-analyzed in various reports and commentaries.
Instead of re-examining these events, the focus shifts to the potential perils faced by an innocent party - the Law Society. As Jonathan Goldsmith notes,
'Just sort it out!' is a reasonable request for the profession to make of the Law Society, allowing solicitors to serve their clients with confidence in a competent regulator.
The Law Society faces a challenge in meeting the profession's expectations, as there is a significant gap between what many would like the Society to do and what it can actually accomplish.
Author's summary: SRA failures impact the Law Society.