Legal Profession: Insolvency

The legal profession in England and Wales, together with its regulators, operate independently of government. The responsibility for regulating the sector sits with approved regulators, overseen by the Legal Services Board. The Solicitors Regulation Authority (SRA) is responsible for regulating the professional conduct of solicitors and most law firms in England and Wales.

The SRA can publish information for clients following the collapse of a regulated firm, including guidance on their rights, options and routes to redress. This includes information on accessing client files, the role of the SRA’s intervention process, compensation arrangements where applicable, and signposting to complaints and redress bodies such as the Legal Ombudsman. For example, the SRA has published specific guidance for clients affected by WW&J McClure Ltd entering into administration in 2021, which is available here: SRA | WW&J McClure and Jones Whyte | Solicitors Regulation Authority.

The Government keeps the overall framework for legal services regulation under review and engages regularly with regulators. While the independent regulators publish information for clients affected by law firm collapses, the Government may seek to support access to this information for consumers where appropriate.