Evan Wright was instructed by a firm of solicitors investigated by the SRA in relation to the firm’s connection with building developments, which were said to be unregulated collective investment schemes. The SRA alleged serious breaches of SRA Principles and argued a failure to recognise issues raised in SRA warning notices.

During an investigation lasting over a year, Evan advised the firm in the various legal and factual submissions made to the SRA. Notwithstanding the SRA’s determined stance from the outset and potentially adverse findings from a forensic level investigation of the firm’s work, the SRA eventually agreed not to take any further action. In doing so, the SRA acknowledged the steps taken by the firm to inform itself of the risk and to deal with it appropriately. A referral to the Solicitors Disciplinary Tribunal and a decision against the firm could have had serious consequences for the practice. Instead, careful presentation and analysis of the issues led to an acceptance on the part of the SRA that no breaches of Principles had occurred.