Law Society Legal News Summary 30 October 2024


Independent review of SRA’s handling of Axiom Ince 

The Gazette, Legal Futures, Legal Futures, Global Legal Post, Gazette Ireland, Legal Cheek, Today’s Conveyancer, City A.M., Law.com and the Gazette report on the Legal Services Board’s (LSB), independent review of the Solicitors Regulation Authority’s (SRA) handling of the Axiom Ince (Axiom) fallout. It revealed a catalogue of errors and missed opportunities on the part of the SRA. 

Law Society president Richard Atkinson said: “The independent review paints a vivid picture of the SRA’s inadequate and ineffective handling of Axiom. 

“As a result of the SRA’s failure to take all the steps it could or should have taken, Axiom was able to act without intervention, leading to money going missing and huge distress to their clients. Ultimately, it has fallen to the profession as a whole – solicitors and law firms – to shoulder the cost through a substantial increase in contributions to the Compensation Fund, which is a vital protection for clients and consumers. 

“While the events leading to Axiom’s collapse were happening, the SRA was focused on increasing its fining powers and proposing regulatory expansion rather than tackling the known risks from accumulator style firms and ensuring its operations were joined up and laser focused on protecting consumers. The report makes it clear the SRA had the funding, staff and powers to take the necessary action to prevent the alleged wrongdoing. 

“The problems identified in the report can be fixed, but the LSB must insist that the SRA puts its house in order and that the SRA’s management and governance concentrates on its core responsibilities.” 

Read our press release
 

Court interpreters 

Senior UK government officials will be questioned by the House of Lords Public Services Committee today about the government’s language services contracts, according to the Gazette. 

Our head of justice Richard Miller spoke to the Committee last week, where he highlighted challenges arising as a result of current legal aid rates.
 

Autumn Budget 

Ahead of today’s Budget, Legal Cheek reports our warning that further cuts to the Ministry of Justice’s budget would be untenable. 

“Unless investment is forthcoming, criminals will feel emboldened and victims will lose faith in our justice system,” said Law Society president Richard Atkinson. 

“The UK government has put forward ambitious plans to get our economy growing, break down barriers to opportunity and keep our streets safe.” 

Read our press release
 

Legal apprenticeship pathways in Wales 

Solicitors, students and paralegals are encourage to take part in a survey on bringing solicitor apprenticeships to Wales, to match a qualification on offer in England, report Nation Cymru and Legal News Wales

Law Society head of Wales Jonathan Davies said: “Feedback from our member-led paper Reimagining Justice in Wales 2030 explicitly told us that recruitment and retention was an issue in Welsh law firms. 

“In fact, we found several cases of firms moving their offices just across the border and Welsh students moving to England, in order to access the Level 7 Legal apprenticeship funding offered to English students.”

The survey is open until 29 January 2025.
 

Diversity Access Scheme 

LawCareers.Net examines how to fund qualifying for the Solicitors Qualifying Exam. 

It cites our Diversity Access Scheme, which addresses key barriers to the solicitors’ profession faced by those from less advantaged backgrounds. 

Find out more about our Diversity Access Scheme
 

Also worth a read: 

  • Autumn Budget live – BBC News, Guardian & FT (£)
  • Labour’s first Budget: What to expect – FT (£)
  • Legal profession reacts to independent review of Axiom Ince – Gazette
  • Six things we learned from the LSB’s independent review of Axiom Ince – The Lawyer
  • Fewer offenders should be sent back to jail for minor probation breaches, says Chief Inspector of Probation – FT (£)
  • Robert Jenrick wades into reparation debate – Guardian
  • Robert Jenrick says Tory cabinet knew Rwanda Bill wouldn’t work – Sky News
  • Young Black lawyers examine what needs to be done on diversity and inclusion – Legal Business
  • Lucy Letby’s barrister banned from Thirlwall Inquiry – Telegraph (£)

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