Month: May 2025

LSB orders SRA actions after £60m client money loss at Axiom Ince

Thursday, May 29th, 2025

An independent review of the Solicitors Regulation Authority’s (SRA) actions before it closed law firm Axiom Ince Limited has led the Legal Services Board (LSB) to take enforcement action against the SRA. The LSB has issued binding directions to avoid a repeat of the regulatory failures identified. These directions are designed to ensure that the SRA…

Read LSB orders SRA actions after £60m client money loss at Axiom Ince

Chair’s blog: addressing today’s challenges, embracing tomorrow’s opportunities  

Friday, May 9th, 2025

We began our April meeting with a presentation from Michael Stych, the CEO of Contend Legal. This is an AI-powered chatbot service that provides information in response to users’ legal questions.   Although Contend Legal operates in an unregulated area, not within the LSB’s oversight, we conduct research into unregulated providers and consider their impact on…

Read Chair’s blog: addressing today’s challenges, embracing tomorrow’s opportunities