On 20 December 2023 Liverpool Law Society (‘LLS’), Birmingham Law Society, Bristol Law Society, Leeds Law Society and Manchester Law Society, known collectively as the Joint V, sent a letter to the Legal Services Board (‘LSB’). The letter set out the Joint V’s concerns in relation to the Solicitor’s Regulation Authority’s (‘SRA’) intervention in Axiom Ince Ltd.
The two key issues addressed in the letter were:-
a) Review of the SRA’s role in relation to Axiom Ince Ltd; and
b) The potential call on the profession for contributions to SRA Compensation Fund.
A copy of the letter can be found here Joint V letter to the LSB
This has also been reported in the Law Society Gazette here.
The LSB has confirmed its intention to undertake an independent review of regulatory events leading up to SRA’s intervention in Axiom Ince Ltd, however the key issues remain a concern. LLS will be keeping up to date with any developments, and we will let our members know when we hear anything further. In the meantime, should any members wish to discuss this matter with LLS, as their representatives, please feel free to contact president@liverpoollawsociety.org.uk.