Contenu connexe Plus de Jonathon Bray (11) Get ready for the SRA Standards and Regulations 20191. © Jonathon Bray Limited
Get ready for the SRA Standards and
Regulations 2019
2. About us
• Team of experts
• Outsourced compliance and risk management
• Compliance and AML audits
• ABS and new firm applications – 100% success
• Online compliance portal and e-Learning
• Fortnightly newsletter – sign up
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3. Overview of session
•What it looks like
•Shift back to ethics
•Brevity – pros and cons
•Where is ‘the truth’?
•Significant changes
•Revolutionary bits
•Practical tips
•Questions?
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4. Standards and Regulations - What it looks like
•Evolution not revolution (but not Emperor’s New
Clothes)
•Very short – lost 300+ pages of rules!
•Fewer, but more focused, Principles
•Two Codes of Conduct
•Standards, not Outcomes
•No Indicative Behaviours
•Completely redrafted Accounts Rules, Authorisation,
Transparency etc.
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5. The (new) SRA Principles
“You act:
1. In a way that upholds the constitutional principle of the
rule of law, and the proper administration of justice
2. In a way that upholds public trust and confidence in the
solicitors’ profession and in legal services provided by
authorised persons
3. With independence
4. With honesty
5. With integrity
6. In a way that encourages equality, diversity and
inclusion
7. In the best interests of each client.”
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6. Shift back to ethics
•Professional judgement
•‘Compliance’ is a low bar
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7. Brevity – pros and cons
•Personal preference
•Flexibility vs uncertainty
•Accessible vs lack of substance
•Future proof vs transient guidance
•Professional judgement vs regulating with hindsight
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8. Where is ‘the truth’?
•Standards and Regulations
•Guidance
•Warning notices
•Risk Outlook
•Primary legislation
•Old rules and guidance
•SRA newsletters, webinars, tweets, conferences…?
© Jonathon Bray Limited
9. Significant changes
• Honesty and integrity Principles – SDT
• Duties to the court
• Identify your client
• ‘Effectiveness’ and accountability
• Reporting obligations:
• “Serious” not “material”
• Report before investigations
• will COLP/COFA report?
• Demonstrating compliance and justifying decisions
• Requirement to:
• Supervise
• Ensure competence
• Referral and fee sharing arrangements
• Complaints and ADR
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10. Revolutionary bits
•Third Party Managed Accounts (TPMAs)
•‘Freelance’ solicitors
•‘Unregulated’ solicitors
•Enforcement Strategy and topic guides
•SDT burden of proof
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11. Practical tips
•Do actually read the thing but don’t panic
•Audit – line-by-line Gap Analysis
•Update website, policies, TOBs etc
•Training
•Reporting procedure
•Record everything
•Keep copies of old rules and guidance
•Supervision
•AML
•Check out your opponents
© Jonathon Bray Limited