SRA PPI Warning

SRA PPI Warning

With just two years to go until the deadline for mis-sold payment protection insurance (PPI) compensation claims to be submitted, the Solicitors Regulation Authority (SRA) is warning law firms to be careful how and when they assist clients to make such claims and to make sure any applications they work on adhere to the rules.

Often those who have a claim for PPI compensation will find the process difficult and may turn to solicitors to help them with that process. In providing that help it is vital that firms abide by the Code of Conduct and ensure the claims they work on are valid and that the advice they provide represents value for money.

The SRA state that they have received reports that solicitors have in the past:

  • acted in matters without first investigating whether there is a valid claim;
  • made claims without the knowledge of the client;
  • failed to properly identify clients and confirm client instructions;
  • submitted false claims in the hope of a settlement without further investigation by the lender; and
  • charged unreasonable costs for a limited amount of work.

The warning notice also reminds solicitors that they should make sure that the claims they are handling have not been brought through cold calling – where the client is approached and invited to make a claim.

The warning notice which is entitled “Payment Protection Insurance (PPI) claims” can be found on the SRA web site at www.sra.org.uk/solicitors/code-of-conduct/guidance/warning-notices/Payment-Protection-Insurance-(PPI)-claims–Warning-notice.page

Terms and Conditions | Site Map | Privacy and Cookies

Copyright © 2020 Richard Nelson LLP and Murdochs. All rights reserved.
The Lawyers Defence Group is operated by Richard Nelson LLP, a Limited Liability Partnership authorised and regulated by the Solicitors Regulation Authority and whose partnership number is OC357136 and Murdochs Solicitors, who are also authorised and regulated by the Solicitors Regulation Authority, and whose SRA number is 52683.
Please note that all advice, guidance, representation and assistance, legal or otherwise, is provided either by those firms or by appropriate referral to other suitably qualified persons. No advice, guidance, assistance, representation or other support is provided by or in the name of the Lawyers Defence Group.
For further details please refer to the terms and conditions for use of this web site and to the terms and conditions of the firms involved.
The professional rules governing our lawyers can be found at rules.sra.org.uk