Professional standards consultant Katie Jackson discusses the management of risks in law firms and leads you through the confident regulatory practice of solicitors. She provides guidance on the regulator’s requirements for dealing with serious breaches of the rules of professional conduct, the relationship of breaches to the annual renewal of the practising certificate, and the imposition of conditions on solicitors. Through this guide you can: Understand the legislative framework sitting behind the Solicitors Regulation Authority’s regulations Understand the various ways to set up and operate as a solicitor firm, and how to meet the expectations of the legislation governing these areas Identify and manage serious breaches, and understand the regulator’s expectations Manage scenarios in which practising certificate or firm conditions may be imposed Understand the requirements for, and expectations of, the reporting accountant, and the recent history of changes to their reporting role Complete your annual CPD, through built in exercises to enable you to understand the judgements required when dealing with the regulator’s Codes of Conduct Legal commentary is accompanied by a separate practical discussion of the management issues arising from the legislation, the possible solutions for implementation within firms, regulatory debates and an analysis of the possible gaps. The book covers strategic decision making for firms and the different regulatory and risk management outcomes of setting up a practice in different ways. This is an essential title for legal practitioners, reporting accountants, approved regulators, those thinking about working with freelance solicitors or employing solicitors, and those completing the LPC, GDL, SQE, or studying law and ethics.

Table of Contents:
Part 1: Professional practice Professional practice as a concept Historical development for solicitors Annual practising year Embodiment in practising certificate Technical content (including discussion of legislative and regulatory basis): Introduction to current legal services regulation and duties to the regulator (SRA) Current regulatory position Historical legislative and regulatory development (dating back to 1900s) Discursive content (including ideas for implementation or discussion in a firm): Individual expression as a form of practice Ethics and reporting The concept of the reasonable man Conducting your own investigation Checks and balances in legal regulation Comparative standards of regulation (including overseas) Comparative professional practice for others (accountants, management consultants, medical professionals) Part 2. Practising arrangements Technical content (including legislative and regulatory basis): The practising year, practice events, and individual practice Practising certificates (First issue, renewal, suspension, revocation, holding over) Firm recognition Reserved work Non reserved work Available practising arrangements (traditional practice, RELs, RFLs, freelancers, ABS, employing solicitors) Discursive content (including ideas for implementation or discussion in a firm): The practising year, and timelines for management of individual issues Options outside regulation, or with alternative regulators National and international implications Differences in regulatory outcomes and prosecution standards for the various forms of practice Ideas for firm strategic management and individual career development based on various forms of practice Organisational structure What does the practising year mean to you? Non reporting relationships with regulators Accountant reporting and the practising year Managing renewal Closing down Part 3. Practising Certificate conditions Technical content (including legislative and regulatory basis): Imposition of conditions Suspension Criminal charges Dishonesty Risk management Public interest test Common conditions Discursive content (including ideas for implementation or discussion in a firm): Achieving a balance in risk management The test for dishonesty and the reporting standard Managing others with conditions: COLP, COFA or HR? Do conditions work? Representations for conditions and risk management SDT outcomes and SRA outcomes Regulators and regulatory decision making Restriction or more practice? Addressing personal development needs Confidentiality, public confidence, and publication in an age of digital information Improving compliance through management Part 4. Serious breach Technical content (including legislative and regulatory basis): Reporting requirements (individual, firm, overseas) Reporting requirements for reporting accountants Other reporting and regulatory requirements Seeking advice SDT and the standard of proof Regulatory outcomes Firm implications Discursive content (including ideas for implementation or discussion in a firm): Standards of behaviour for solicitors The reasonable man Comparative reporting (international) COLP, COFA and accountant debates Reasonableness Dishonesty and reporting Managing investigations Pastoral support; thoughts and feelings Improving compliance Whistleblowing Fiduciary duties Organisational culture Organisational learning as a form of risk management Leadership