Conflicts of Interest – what law firm leaders need to know

The issue of a Conflict of Interest for Law Firms is of considerable importance, and, under the Standards and Regulations 2019, as a Partner or the Compliance Officer for Legal Practice (COLP), you are expected to manage the risk of conflicts in your team and firm.

What should you be thinking of in terms of systems and control, knowing when your firm can and cannot act and understanding the safeguards that should be in place?

This webinar will cover the following topics:

• Your conflict of interest duties as a Partner (and as COLP)
• The systems and controls in practice
• The SRA’s regulatory framework on conflicts, including:
  • SRA Principles 1, 2, 5 & 7
  • SRA Code of Conduct – Section 6
  • Code of Conduct for Firms – Paragraphs 6.1 – 6.2
• When you can and cannot act, and exceptions under SRA rules
• A detailed understanding of the SRA’s Rules in relation to client conflicts of interest, own interest conflicts and commercial conflicts
• The importance of confidentiality and disclosure risks as adjuncts to the conflict of interest issues
• Some key takeaways to test your current systems and enhance your firm’s approach