The Law Society has told the Solicitors Regulation Authority it remains unconvinced the regulator has raised its game adequately in the wake of the Axiom Ince debacle.
The representative body formally wrote to the regulator last week saying it is not ‘sufficiently assured’ that the SRA is complying with its duties.
The assessment comes after the SRA submitted an assurance report to the Law Society Council in June. SRA chief executive Paul Philip attended the council meeting at the start of this month, where he presented an update on changes made. The Society has now said the SRA has provided insufficient information to be assured of compliance with its duty to act in accordance with the regulatory objectives.
The determination is related to the events leading up to the SRA’s intervention into national firm Axiom Ince and the regulator’s response. Following an independent report, oversight regulator the Legal Services Board found last year that the SRA did not act adequately, effectively and efficiently, and the mistakes made should prompt changes in its procedures.