The regulator has opted against implementing a cap on the amount that can be claimed against its compensation fund, as the “the scale of consumer loss would be too large" and would lead to "an unacceptable loss in public confidence in solicitors”.
November 29, 2023 at 09:09 AM
2 minute read
Reporter
The Solicitors Regulation Authority (SRA) has decided not to call on solicitors to make an in-year contribution towards the compensation fund for former Axiom Ince clients.
However, the SRA has also confirmed that it will not be imposing an overall cap on claims against the fund.
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