The Board gathered on 22 October 2024 for a meeting dominated by discussion of a series of events that have had significant consequences for the legal services sector: the intervention into Axiom Ince by the Solicitors Regulation Authority (SRA).
We had commissioned Carson McDowell LLP, a Northern Ireland firm of solicitors not regulated by the SRA, to carry out an independent review into the SRA’s handling of Axiom Ince. Based on the findings of that review, the Board decided, in accordance with its enforcement policy, to initiate action against the SRA under the Legal Services Act.
We have just this week published the report and a press release about our decision on the website: available here.
There is now a statutory process to follow, and we won’t be commenting further until that process is concluded. So, in this blog I will share some wider updates from our meeting and from recent conferences and events.
Solicitors Disciplinary Tribunal budget
While the SRA matter was our focus in the Board meeting, we also had regular business to discuss. We needed to consider whether to approve the annual budget of the Solicitors Disciplinary Tribunal (SDT).
The SDT applied for an operating income budget for 2025 of £3,140,083 – nearly 25% higher than the approved budget for 2024. The main reason for the increase is that substantially more sitting days are anticipated, following a 50% increase in cases referred by the SRA over the last eight months. These cases will need to be dealt with in 2025.
There had already been significant scrutiny of the application and budgeted costs ahead of the meeting. A key factor in our consideration was that last year’s approved budget was 41% lower than for the previous year, so the increase for 2025 is not as much of a departure as it might initially appear.
The Board was able to approve the SDT budget, noting the progress that the SDT is making across a range of reforms, as well as areas where we’ll seek some further assurances that its governance and operating structures are sufficiently robust and resilient.
LSB on the road
Beyond the Board meeting, it’s been a busy month for conferences and meetings. From the House of Lords to Haverfordwest, East Anglia to Australia, we’ve been sharing and collecting insights into how regulation can secure high quality legal services for consumers.
Of the many engagements, I’d like to mention two highlights: the International Conference of Legal Regulators in Melbourne and the LSB’s own event in Norwich.
The former was a singular opportunity to share best practice with legal regulators from around the world, and to discuss shared challenges. I spoke on two panels. The first explored the regulatory implications of the complex and fast-moving world of AI, during which I was able to outline the LSB’s strategic approach to AI. The second was about how regulators can understand consumers of legal services, at which I discussed the LSB’s research into individual legal needs.
I’d like to thank the Victorian Legal Services Board and Commissioner for hosting such a productive conference.
On 23 October, my colleagues and I were in Norwich for the latest of the LSB’s Reshaping Legal Services engagement events. We met staff from both the Norfolk and Suffolk law centres, representatives of local firms, and academics and students from the University of East Anglia (UEA), before a public event kindly hosted by UEA Law School.
We heard about the unique strengths and challenges of legal services in East Anglia, and gathered many insights to bring back to the LSB team, to help shape future regulation. Thanks again to everyone who shared their time and experiences with us so generously.
LSB annual conference
On the topic of conferences, we will soon be announcing more details about the 2025 LSB conference. I can say already that it will involve a busy programme of presentations and discussions, covering topics like equality, diversity and inclusion; public trust and confidence; and access to justice. So please save the date: 6 March 2025 in central London.
To receive this blog direct to your inbox each month, alongside other news and updates from the LSB, please subscribe to our newsletter here.