Policy Adviser The Law Society The Law Society approach The Law - - PowerPoint PPT Presentation

James Woolf

Policy Adviser The Law Society

The Law Society approach

The Law Society approach

First, a little bit of history....

HERMAN OUSELEY Independent Review into Disproportionate Regulatory Outcomes for Black and Minority Ethnic Solicitors Published in July 2008

The Law Society approach

A little bit of history....

HERMAN OUSELEY: “One of the main reasons for disproportionality is that sole practitioners and small firms are targeted for regulatory activity.” “5.8% of BME solicitors are sole practitioners and most of the rest are found in small firms.” “It is clear that more detailed ongoing assessment and review of both the risk assessment process and the vulnerability of BME solicitors operating in small firms are required.” Many recommendations for the SRA to take on board.

The Law Society approach

The Law Society’s commitment to Small Firms

TLS is serious in its commitment to small firms:

• TLS recognises “the importance of the SRA building good engagement with

sole practitioners and small firms”

• TLS response to SRA discussion paper demonstrates our support
• TLS engages in open and constructive dialogue with SRA
• TLS established Small Firms Division and dedicated section of website
• Practice Advice Service (PAS) responds to specific queries

The Law Society approach

SRA Small Firms Discussion Paper

TLS made the following points in its response:

• TLS welcomed the SRA's proposed direction of travel, as well as the

philosophy behind its proposals

• TLS would wish to see the SRA scope out more fully the effect of its

proposals, providing detail on who will be affected, to what extent and how

• TLS expressed concern about the use of such a precise definition of

small firm

• TLS commented that new small firms section of the website a

promising start

The Law Society approach

The Law Society also:

• Issues Practice Notes with relevant content for small

firms

• Undertakes policy work on areas of interest for small

firm such as consumer credit regulation

Small Firms – TLS approach

Practice Advice Service (PAS)

The Practice Advice Service, which is run by Membership Services, has different support lines for members including:

• Main line for enquiries
• AML line
• Pastoral Care Line
• CQS tech line
• Lawyer Line (dealing with complaints)
• PII helpline

PAS also deals with enquiries made by email.

Small Firms – TLS approach

Practice Advice Service (PAS) PAS also produces written Q&As.

For example the following Q&A on Continuity Management

Small Firms – TLS approach

Practice Advice Service (PAS)

Does the Law Society produce any practice advice for firms regarding business continuity management?

The Law Society approach

Practice Advice Service (PAS)

Yes, practices should do all of the following:

• Allocate overall responsibility for business continuity management to a

partner, or staff members of equivalent seniority;

• Conduct a risk assessment with a view to identifying and mitigating the

risks you face and increasing the resilience of your practice;

• Create a written business continuity plan;
• Test and review your plan regularly; and
• Communicate your business continuity management plan to staff.

The Law Society approach

Practice Advice Service (PAS)

The Department for Business, Innovation and Skills provides extensive guidance to assist firms in implementing business continuity management. For further information, please see the Law Society’s Practice Note on Business Continuity at www.lawsociety.org.uk/advice/practice-notes.

The Law Society approach

Professional Standards and Ethics Committee (PSEC)

And in the context of increased SRA activity in this area, PSEC is currently running an Ethics Project:

• Producing a definition of Ethics
• Maintaining a dialogue with the Law Society’s Corporate Strategy work
• Conducting an Ethics Interview Programme

The Law Society approach

Professional Standards and Ethics Committee (PSEC)

Also on the table for discussion right now:

• Producing interactive ethical scenarios for TLS website
• A dedicated ethics web page

The Law Society approach

Professional Standards and Ethics Committee (PSEC)

The Professional Standards and Ethics Committee also:

• Maintains an open dialogue with the Practice Advice Service
• Raises issues of concern with the SRA
• Responds to consultations
• Deals with policy issues such as Consumer Credit Regulation

The Law Society approach

Professional Standards and Ethics Committee (PSEC)

Regulation of Consumer Credit activities update:

• SRA consultation proposing that it ceases to regulate solicitors' firms

undertaking consumer credit activities closed on 15 December 2014

• TLS voiced many concerns about the effects of the SRA proposal and

campaigned behind the scenes

• On 21 January 2015, the SRA and FCA agreed to extend the existing

arrangements for Consumer Credit regulation for a further six months whilst deciding upon the future model for the regulation

• Helpfully, the Government has also issued new statutory instruments which

should reduce regulatory burdens on firms

• TLS remains concerned about the impact dual regulation would have had on

both the public and the profession

• We continue to encourage the SRA and FCA to avoid costs and confusion by

having the work of solicitors covered as far as possible by a single regulator

The Law Society approach

Professional Standards and Ethics Committee (PSEC)

Recently amended Practice Notes of interest to small firms:

• Conflict of Interests
• Holding client funds
• Outsourcing
• Publicising solicitors charges (Veyo disbursements amendment)

The Law Society approach

latest practice notes – holding client funds, outsourcing and publicising solicitors charges.