The SRA have launched a review of its overall approach to protecting consumers in response to shifting risks in the sector. The Law Society have welcomed this review, which is timely in light of the serious consequences of the collapse of Axiom Ince. The review’s main points of focus are consumer protection and the Compensation Fund.
The SRA’s objective with this ‘Consumer Protection Review’ is to ensure:-
• consumers are appropriately protected when they use a regulated law firm.
• public confidence and trust in legal services is maintained.
• there is a competitive, dynamic legal market that supports access to justice through enabling consumer
choice while keeping the costs of legal services down.
Any reforms will invariably impact legal service providers, and any regulatory changes could increase burdens and costs to law firms.
I would urge Liverpool Law Society members to read the review SRA | Protecting the public: our consumer protection review | Solicitors Regulation Authority and to submit your responses by 1 July 2024.
Gaynor Williams
President
Liverpool Law Society