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Regulatory and disciplinary - SRA investigation

Advising a firm under investigation by the SRA and under threat of intervention

We received instructions from the COFA and the COLP of a firm, to help them respond to an SRA investigation, following reports from creditors of unpaid disbursements.

We worked closely with the COLP and COFA to respond to requests for financial information, review and revise practices at the firm, provide explanations about the firm’s practices and set out the viability of its business model. There was a significant risk that the SRA might intervene into the firm. Our prompt and thorough advice enabled the COLP and COFA to respond to the SRA’s requests for information and documents and the firm was not intervened by the regulator.