The Board of the Solicitors Regulation Authority (SRA) has been asked to approve plans to fund the cost of interventions from the Compensation Fund.
The SRA has estimated that the total cost of interventions in 2013 may be £7 million greater than the budgeted costs.
In April, the Board agreed to consult on the proposal to make key stakeholders aware of the suggested policy change and seek views.
Respondents were asked to identify alternative methods of funding if they did not agree with the proposed approach. No alternative proposals were brought.
The responses did raise concerns about the cost to well managed firms arising from the financial failure and disorganised closure of other firms and suggested that further steps should be taken to recover intervention costs from partners in cases of firm failure.
The Law Society response also suggested that the move should not be a long-term solution.
Richard Collins, SRA Executive Director for Policy, said: "We are grateful to all those who responded to the consultation within the short timetable which was necessary to fit the timetable for setting regulatory fees for 2014.
“There was a clear policy proposal from the SRA that it was necessary to use the Compensation Fund to cover the cost of interventions, but the consultation was important to be transparent about the situation, explain the issues faced by the Board and its analysis of the best way forward and seek additional ideas to manage the situation.
"When considering the response, it is important to remember that whichever solution is decided upon, it is the profession that ultimately carries the cost of interventions. In the future, all matters that have been raised will undoubtedly be covered by both the Wider Fees Review and Compensation Arrangements Review."
