Numerous residents face debts of up to tens of thousands despite SSB Law telling them their case was on a “no-win, no-fee” basis. Despite the warnings, the Solicitors Regulation Authority (SRA) did not take further action against SSB Law before it went bust in January. Advertisement Advertisement Did you know with an ad-lite subscription to Burnley Express, you get 70% fewer ads while viewing the news that matters to you.
The Legal Services Board (LSB) has now published the scope of its investigation into how effectively and adequately the SRA regulated SSB Law . In a letter shared with the Burnley Express today, the LSB said its review aims to identify whether the SRA took all of the steps it could have taken to help protect homeowners from exploitation, and whether changes are required by the regulatory body to stop the scandal happening again. The events and steps or actions taken by the SRA in relation to SSB Group; Whether the SRA adequately supervised SSB Group’s compliance with relevant rules and policies; Whether the SRA had in place appropriate and adequate rules, policies and resources with regard to the supervision of SSB Group.
The review may consider how well the SRA made decisions, handled and assessed information, responded to issues, put in safeguards, carried out risk assessments, and more. It will also look at how effectively senior management supervised SSB Law. An independent firm of solicitors, Carson McDowell LLP, will conduct the probe on the LSB�.