Outcomes-Focused Regulation: Compliance in Practice 2nd Edition

Breaking down the regulatory changes into bite-sized portions this report provides practical guidance to aid compliance.

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Description

This critical report offers practical guidance to aid compliance with the most recent updates to the SRA Handbook – and the upcoming changes to Outcomes-Focused Regulation.

Fully updated for 2013, the second edition includes:

  • An overview of the 6th edition of the SRA Handbook which published 1 Jan 2013; plus advice on upcoming amendments to the handbook in version 7 due April 2013; 
  • Fully updated advice on the SRA's approach to authorisation, risk and supervision;
  • The SRA Code of Conduct - compliance requirements and risk management strategies in key areas (client care, conflicts of interests and confidentiality, referrals, outsourcing, separate business and overseas practice);
  • Information on the SRA's Strategic Plan 2013-15 and the SRA's Regulatory Risk Framework;
  • Information on the regulatory changes and the SRA's response to the LASPO Act 2013, including a checklist of action points to show your firm has considered these changes and updated compliance plans.

Respected authors, Bronwen Still and Tracey Calvert were both instrumental in the drafting of the SRA Handbook and have first hand experience in advising firms on ethics and compliance.

What makes this report unique?

New and updated real-life case studies, examples and perspectives from leading practitioners give you critical insight into:

  • COLPs & COFAs - How appointments were made and advice on the practical issues facing those in the roles;
  • The FSA regulatory experience and how this compares with SRA regulation;
  • Good governance and how a whistle-blowing policy should work;
  • Compliance planning - Invaluable tools and procedure options; and much more...

Contents

Chapter 1: ‘All change in the legal services market’

Chapter 2: The opening up of the legal services market

Chapter 3: The SRA’s response to the LSA

Chapter 4: Cutting the SRA Handbook down to size

Chapter 5: How the SRA evaluates law firm risk

Chapter 6: Authorisation Rules and how they affect all firms

Chapter 7: An analysis of the COLP and COFA roles

Chapter 8: Other requirements for authorised firms

Chapter 9: The SRA’s powers over firm

Chapter 10: How new firms become authorised

Chapter 11: The SRA Code of Conduct 2011 and the practical application of OFR

Chapter 12: Client care

Chapter 13: Conflicts of interests

Chapter 14: The duty of confidentiality and disclosure

Chapter 15: Fee sharing and referrals

Chapter 16: Separate businesses

Chapter 17: Outsourcing

Chapter 18: Overseas offices

Chapter 19: Compliance with the rest of the SRA Code of Conduct 2011

Chapter 20: SRA Accounts Rules 2011 – The new compliance requirements and the role of the COFA.

Chapter 21: Other significant aspects of the SRA Handbook

Chapter 22: Compliance planning

Check our Executive Summary and full table of contents here

Authors

Bronwen Still
Bronwen Still is a solicitor who worked in high-street practice doing mainly crime, matrimonial and conveyancing work before joining the Law Society in 1980. She worked in many capacities for the Law Society (and subsequently the SRA), initially handling complaints, dealing with interventions and prosecuting cases before the Solicitors Disciplinary Tribunal.
Tracey Calvert
Tracey Calvert is a lawyer and the director of Oakalls Consultancy Limited. She is a regulatory, compliance and ethics specialist, providing a variety of advisory services to members of the solicitor’s profession. She is a regular speaker and trainer on these topics and has delivered presentations both within the UK and internationally. She is an officer of the International Bar Association’s Professional Ethics Committee and a board member of both the Wilmington Group’s Legal Compliance Association and the Law Society’s Legal Compliance Bulletin. Tracey was previously employed by the Law Society and the SRA as a senior ethics advisor and a policy executive.

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