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New Models of Practice II – Solicitors in Unregulated Entities
New Models of Practice II – Solicitors in Unregulated EntitiesMarch 1, 2019New regulations from SRA will permit solicitors employed by unregulated entities to provide legal services to the public provided they do not undertake reserved legal services other than through a regulated firm. Is this a recipe for confusion?Read More
New Models of Practice I – Freelance Solicitors
New Models of Practice I – Freelance SolicitorsMarch 1, 2019The SRA proposal for “sole solicitors" to act outside the protections of a recognised sole practice is to come into effect in 2019. Freelance solicitors, as they have become known, will not be subject to entity regulation and will be able to deliver legal services direct to the public.Read More
The SRA Enforcement Strategy and Price Transparency
The SRA Enforcement Strategy and Price TransparencyFebruary 17, 2019SRA publishes updated Enforcement Strategy which sets out when and how the SRA will take action against a law firm or solicitorRead More
When, and when not, to disclose
When, and when not, to discloseNovember 28, 2018A recent case provides a useful reminder of the importance of safeguarding confidential information unless, in accordance with Outcome 4.1 in the Code of Conduct, the client consents to disclosure or there is a clear legal duty to reveal the information.Read More
SRA Price Transparency Rules
SRA Price Transparency RulesOctober 30, 2018Seen as an unwelcome burden upon firms already swamped by regulation, and due to take effect in December, the SRA has, with only two months to go, finally published its guidance on the new price transparency rules. This article provides a brief overview of what the SRA Transparency Rules require firms to do and what the SRA will expect to see on firms’ websites in order for them to be compliant.Read More
New Financial Services Rules and the SRA Handbook
New Financial Services Rules and the SRA HandbookOctober 25, 2018The SRA issued a new version of its Handbook on the 1st October to address the changes that it had to make as a result of the EU Insurance Distribution Directive which also took effect as of that date. This article looks at the new requirements and at the changes that will need to be made as a result of the new rules.Read More
Sanction Obligations and the AML Regime
Sanction Obligations and the AML RegimeSeptember 27, 2018In this article we look at the provisions relating to asset freezing targets, obligations in relation to sanctions control and at the specific practical steps your firm needs to consider in order to ensure that it remains compliant in this regard. Read More
SRA Waivers: Innovation or Jumping the Gun?
SRA Waivers: Innovation or Jumping the Gun?September 16, 2018Much has been written recently about the SRA granting waivers to firms ahead of changes to the rules - but is it important? Here Jayne Willetts, Director of Infolegal, argues that it is on two levels. First, as a regulator, should the SRA be permitted to ignore its own rules and secondly, does this more tolerant approach foreshadowing changes due to come into force early next year mean that there are more opportunities for firms and individual solicitors to develop new business models?Read More
Lexcel 6.1 Takes Effect
Lexcel 6.1 Takes EffectAugust 19, 2018The Law Society has now unveiled its latest version of its flagship Lexcel standard. Although only an interim updating version of the standard, rather than the more radical overhaul of the standard for which many had hoped, Lexcel 6.1 is currently optional at new and continuing assessments, and will be mandatory from November 2018.Read More
SRA Reforms – Towards the New Handbook
SRA Reforms – Towards the New HandbookJuly 20, 2018This article looks at three issues that arise from the SRA’s programme of de-regulation - indemnity insurance, waivers and costs information. Whilst they may not seem significant, their impact could not be greater for most firms when the new Handbook, currently anticipated to be in force next April, comes into force.Read More