The collapse of Sheffield’s SSB Law has led to a rigorous investigation by the Solicitors Regulation Authority (SRA).
- Many clients are now facing unexpected legal costs due to issues with After the Event (ATE) insurance providers.
- The SRA is scrutinising SSB Law’s client interactions and assessment processes to ensure compliance with professional standards.
- Key individuals from SSB Law might be interviewed as part of the investigation into the firm’s operations.
- Discussions with the Financial Conduct Authority (FCA) and the Royal Institution of Chartered Surveyors (RICS) aim to bolster consumer protections.
The recent collapse of Sheffield-based SSB Law has prompted an intense investigation by the Solicitors Regulation Authority (SRA), as numerous clients find themselves burdened with unexpected legal expenses. This situation arises from the challenges posed by After the Event (ATE) insurance providers, who have reportedly failed to cover defendants’ costs in certain cases.
The SRA’s investigation is meticulously examining SSB Law’s practices, particularly focusing on how the firm assessed the merits of claims and disclosed potential liabilities to clients. Essential facets such as the firm’s communication regarding ATE insurance policies are under close scrutiny.
To gain comprehensive insights, the investigation may extend to interviews with SSB Law’s directors and employees. These discussions aim to unravel the intricacies of the firm’s operations and decision-making processes.
In a bid to address broader issues, the SRA is engaging with other regulatory bodies, such as the Financial Conduct Authority (FCA) and the Royal Institution of Chartered Surveyors (RICS). These collaborative efforts seek to identify gaps in consumer protections, particularly concerning ATE insurance and the role of surveyors in legal services.
Feedback from these discussions emphasises the ongoing need for reforms to fortify consumer safeguards within the legal domain. This focus on enhancing protections underscores the lengthy and complex nature of regulatory investigations such as these.
The SRA’s investigation into SSB Law continues, highlighting the challenges in ensuring consumer protection within legal services.
