SRA launches consumer protection review

The Solicitors Regulation Authority (SRA) has today launched a review of its overall approach to protecting consumers in response to shifting risks in the sector.

Law Society of England and Wales chief executive officer Ian Jeffery said: “We welcome the launch of this review which is timely in light of the serious consequences of the collapse of Axiom Ince. It is right that consumer protection and the Compensation Fund are the two main points of focus.

“The potentially far reaching changes under review require careful consideration and full and meaningful consultation with the profession, with an opportunity to consider a range of options that best serve the needs of consumers.

“People go to solicitors for support and advice during significant events in their lives – the death or injury of a loved one, family breakdown, a house purchase or estate planning.

“They do so rightly confident that solicitors are highly qualified and regulated.

“We look forward to working with the SRA as it undertakes this work and ensuring that the views of our members are heard.”

Notes to editors

The SRA will be engaging with legal and consumer groups, as well as conducting consumer research. It will be holding roundtables for high street firms (12 March), consumer groups (13 March), solicitor representative groups (21 March) and local Law Societies (26 March).

About the Law Society

The Law Society is the independent professional body that works globally to support and represent solicitors, promoting the highest professional standards, the public interest and the rule of law.

Press office contact: Naomi Jeffreys | 020 8049 3928