An independent review by the Legal Services Board (LSB) has criticised the Solicitors Regulation Authority (SRA) for failing to act decisively on early warnings about the now-collapsed law firm SSB Group Limited, concluding that widespread leadership and procedural failings left thousands of consumers unprotected.
The review, published today, examined how the SRA handled more than 100 reports concerning SSB’s management of compensation claims before the regulator intervened. The findings depict an organisation that lacked strong oversight, effective systems, and a culture capable of identifying serious risks in time.
Mark Evans, President of the Law Society of England and Wales, said the report “lays bare a lack of leadership and oversight of regulatory procedures and processes at the SRA.” He added: “This is despite knowing the risks posed by bulk cavity wall insulation cases, the previous failure of Pure Legal from which the SRA transferred clients to SSB, and multiple reports from MPs, other lawyers, industry and the victims themselves. A key concern must be the treatment of vulnerable victims by the SRA.”
The SRA’s handling of SSB Group follows a string of controversies, including its oversight of Axiom Ince, another firm whose collapse raised questions about regulatory supervision. In both cases, independent reviews concluded that the regulator failed to act “adequately, effectively and efficiently” to protect consumers.
Evans said that the SRA’s forthcoming change in leadership comes at a “crucial moment” for the organisation. “This cannot just be about improving systems and processes,” he said. “It requires culture change and focused leadership.”
The Legal Services Board has issued sanctions and binding directions to the SRA, demanding a swift and comprehensive response to its recommendations. Evans described the measures as “a necessary step” but called for ongoing external oversight to ensure meaningful reform.
“The SRA must get back to basics and ensure its operations are joined up and focused on protecting consumers,” he said. “The profession and consumers have been badly let down by the actions of SSB and the failings of the SRA.”
The Law Society, which represents solicitors across England and Wales, is marking its 200th anniversary this year. It continues to campaign for stronger regulation, higher professional standards, and public confidence in the legal system.
