Webinars by Practice Area
SRA Standards & Regulations – the New Normal (2021 Update)
Recorded on: 22/10/2021
Now that Covid restrictions are lifting, normality is being restored – or as near to it as possible. Two years after their introduction the ‘new’ Standards and Regulations (STARs) are with us and in full force, but for 18 months of that time, firms have been working under abnormal conditions, and circumstances of regulatory forbearance. Now, the SRA are sniffing around again….
There are some threats lurking in amongst the new reduced Codes of Conduct, and recent enforcement activity would bear this out. Principle 4 – acting with integrity – would appear to be the regulator’s weapon of choice when it comes to policing activities. Further, law firms face competition on employing ‘solicitors’ to advise the general public. Other organisations can now offer the same product to clients, possibly more cheaply and more accessibly, and they are probably more innovative than the profession has previously shown itself to be. But, are there risks to the legal advice gained from those other, possibly unregulated, service providers?
The SRA resources also offer some thoughts on the measures the regulators would be looking for in the systems and procedures firms should have in place. They also offer some thoughts on client care letters, communications and insurance cover. But some key questions still need answering.
Fee-earning and administrative staff would both benefit from this webinar which will consider:
- An outline of the new rules
- The SRA ‘logo’ – ATOL protection for law firms
- Where is legal professional privilege in all this?
- New possibilities for firms
- New possibilities for individual solicitors – who is offering the best package?
- New insurance possibilities – ‘adequate and appropriate’ cover
- Client care communications – ‘T&Cs apply’
- Requirements of non-regulated employers