What is the role of the Law Society?
Represents solicitors’ views to the public, the government and the regulators.
Supports solicitors in their careers
What is the role of the SRA?
Deals with all regulatory and disciplinary matters.
Sets standards for solicitors and is responsible for monitoring and enforcing the standards.
What is the role of the Legal Ombudsman?
Deals with consumer complaints relating to poor service or billing.
What do the SRA Financial Services (Scope) Rules 2019 govern?
The scope of regulated financial services activities that may be undertaken by firms.
What should a solicitor do in a case of negligence?
- Inform their supervisor and the COLP
- Inform the firm’s insurers
- Inform the client
When is the Compensation Fund used?
To compensate those who have suffered a loss as a result of the dishonesty of a solicitor.
Only where the applicant is not otherwise indemnified.
What is the consequence of professional misconduct?
May lead to action from the SRA. But should be proportionate to the offence.
May be referred to the SDT if misconduct is consistent
What is the consequence of conduct unbefitting a solicitor?
Usually suspension or striking off the roll.
E.g embezzling funds.
What are the tiers of complaint procedure?
- Complain to the firm
2. Legal Ombudsman / SRA / SDT
Who can bring a complaint to the LO?
An individual, very small business, charity, clubs and trusts
What are the powers of the LO?
Require the solicitor to:
- Give an apology
- Pay compensation for loss
- Pay compensation for inconvenience/distress
- Correct or put right an error
- Take specific action
- Pay for costs of complaint
- Limit the firm’s fees
What are the powers of the SRA?
- Order the solicitor to remit or refund the costs
- Impose restrictions on a practising certificate
- Reprimand the solicitor
- Intervene in the solicitor’s practice
- Institute disciplinary proceedings before SDT
What are the powers of the SDT?
- Strike a solicitor off the roll
- Suspend a solicitor
- Reprimand a solicitor
- Impose a fine
- Award costs against a party
- Make a restriction order
Cannot award compensation.
What mechanisms must be in place for a law firm to be managed effectively?
- Compliance with the Code
- Compliance with Money Laundering Regulations 2017
- Compliance with regulatory requirements
- Identification of conflicts of interest
- Control of undertakings
- Safekeeping assets and documents
- Compliance with paragraph CCF 1.5
- Training to maintain competence
- Financial control
- Protection of client money
