Regulation, Compliance and Ethics in Law Firms
This second edition has been updated to reflect the replacement of the SRA Handbook with the new regulatory toolkit, the SRA Standards and Regulations, in order to help lawyers acknowledge and develop strategies to accommodate risk management, regulatory and legal compliance and ethical values in their business.
In November 2019, The SRA replaced the SRA Handbook with a new regulatory toolkit called the SRA Standards and Regulations. Solicitors and everyone working in authorised law firms are now expected to achieve the behaviours in the S & R. The second edition of Regulation, Compliance and Ethics in Law Firms has been updated to include the following:
+ An overview of the changes introduced by the S & R;
+ Commentary on the SRA Principles and the challenges of ensuring the right response in an individual's professional and private life;
+ An explanation of the two Codes of Conduct and the correct compliance response in law firms;
+ Updated disciplinary decisions; and
+ Case studies from leading practitioners and compliance experts.
It is essential that law firm owners and managers acknowledge and have strategies to accommodate risk management, regulatory and legal compliance and ethical values in their business. They must also have a common understanding as to how this will be achieved. This guide is intended to provide lawyers with the language, arguments and practical solutions which are needed to make this happen.
Table of Contents
|Table of Contents||3|
|Section 1: Governance and risk management||9|
|Chapter 1: Effective law firm management||11|
|Section 2: Demonstrating regulatory compliance in practice||73|
|Chapter 2: What is ethics?||81|
|Chapter 3: Essential behaviour||85|
|Chapter 4: Evidence of compliance||115|
|Chapter 5: Safe client inception processes||121|
|Chapter 6: Compliance in the litigation arena||131|
|Chapter 7: Adding the people and commercial perspective to regulatory standards||147|
|Chapter 8: The Legal Ombudsman – why are we bothered?||153|
|Section 3: Compliance with legal obligations||165|
|Chapter 9: An overview of legal compliance||169|
|Chapter 10: Managing the money laundering risk||177|
|Chapter 11: Managing the risks of handling data||197|
|Section 4: Compliance tools and resources||205|
|Chapter 12: Be aware of recent changes||209|
|Chapter 13: Remote working – compliance considerations||215|
|Chapter 14: Conclusion||227|
|Chapter 15: Resources||235|
|About the author||241|
|About Globe Law and Business||249|
Review for previous edition: Great book- we have the first edition and find it very helpful.
Managing Partner East Devon Law
Definitely a must-read
Immigrations Solutions Lawyers Pty Ltd, Modern Slavery Corporate Compliance Counsel
Regulation, Compliance and Ethics in Law Firms, Second Edition by Tracey Calvert is a well-written and concise guide to the subject. The advice is helpful whether you are a small or large firm. Sometimes though it is unclear whether the author is quoting from a source or using her own material. Having said that, a difficult subject is covered well. The case studies and examples are interesting and illuminating. There is a section on remote working and all the compliance issues coronavirus has generated. The author is correct that the success of the profession is built on its reputation – and this depends on compliance.
Law Society Gazette
Director, Oakalls Consultancy Limited
Tracey 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 currently the co-vice-chair 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.
She is a contributor to Cordery on Legal Services and has written several books on compliance and ethics. Full details are available at www.oakallsconsultancy.co.uk.
Tracey was previously employed by the Law Society and the SRA as a senior ethics adviser and a policy executive. She has also worked both in private practice and in an in-house role.