Fee sharing arrangement definition

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Personal injury referral arrangements—systems and controls

Personal injury referral arrangements—systems and controls This Practice Note explains the systems and controls you should consider implementing to identify prohibited personal injury (PI) referral arrangements and ensure you comply with the statutory and regulatory regime in relation to any PI referral arrangements you consider to be lawful. It reflects the SRA Standards and Regulations 2019, SRA Handbook 2011 and underlying statutory regime. Not all PI referral arrangements involving payments are unlawful. See Practice Note Personal injury referral fee—the statutory regime and Personal injury referral arrangements—SRA requirements for an explanation of the underlying statutory regime and explanation of how this is implemented by the SRA. See also Practice Note: Personal injury referrals—SRA examples, flowchart and guidance. For guidance on generic SRA requirements relating to referral arrangements (including personal injury referral arrangements), see Practice Notes: Referral and fee sharing arrangements 2019 and Referral and fee sharing—SRA 2011 regime and SRA 2019 regime compared. Assessing whether your PI referral arrangements are compliant You should take a health check of your existing PI referral and fee sharing arrangements to ensure you: • are not paying any prohibited referral fees (if you are, you will need to terminate or amend the arrangement), and • comply with all the SRA requirements regarding referral fee sharing, not just those relating to the PI referral fee ban—see Checklist: Referral and fee sharing 2019—law firms—checklist You must also assess any

Introductions to third parties 2019

Introductions to third parties 2019 This Practice Note reflects requirements in the SRA Codes of Conduct 2019 in relation to Introductions to third parties, in force from 25 November 2019. There is a separate Practice Note for situations where clients are referred to you by third parties—see: Referral and fee sharing arrangements 2019. This Practice Note does not cover circumstances where you are simply instructing a client of a client’s matter. See below Difference between introduction to and instructing a third party and separate Practice Note: Instructing third parties 2019. Comparison to 2011 Code The SRA's core regulatory requirements in relation to introductions to third parties are found in the two Codes of Conduct (the Code for Individuals 2019 and Code for Firms 2019), which should be read in the context of the SRA Principles 2019. The requirements in the 2019 represent the bare bones of those in the 2011 Code as shown in Practice Note: Introductions and instructions to third parties—SRA 2011 regime and SRA 2019 regime compared. You should not, however, assume that the pared-down requirements in the 2019 Code represent a relaxation of the SRA’s expectations on introductions to third parties. Generally, the omitted items can be mapped across to one or more obligation in the 2019 Principles. Firms should also consider their obligations under the SRA Financial Services (Scope) Rules and SRA Financial Services (Conduct of Business)

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Quarterly referral and fee sharing monitoring record

Quarterly referral and fee sharing monitoring record This precedent can be used to undertake routine monitoring of any referral and fee sharing arrangement in place. It can be used for personal injury and non-personal injury matters. The question ‘Have we paid a prohibited

Referral and fee sharing—approval request—personal injury and non-personal injury

Referral and fee sharing—approval request—personal injury and non-personal injury Details of arrangement Person making request [Insert the name of the requestor] Date of request Name of proposed introducer/fee sharer Financial or other terms proposed Do you have any personal interest in the proposed arrangement?(eg are you related to the introducer) Does the arrangement involve making payments to an introducer in respect of clients who are the subject of criminal proceedings.(If so, we cannot make a payment to the

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We are considering working with a non-lawyer, on a self-employed/part time consultancy basis to help promote the firm, eg to chair conferences and present to our client base. What are the regulatory issues we need to consider?

We are considering working with a non-lawyer, on a self-employed/part time consultancy basis to help promote the firm, eg to chair conferences and present to our client base. What are the regulatory issues we need to consider? There is nothing essentially wrong with law firms employing non-lawyers or with law firms engaging with lawyers or non-lawyers to drive clients. The issues derive from the manner in which this work is done and in which it is remunerated. Advertising Even though a non-lawyer is providing the marketing effort the Solicitors Codes of Conduct remain fully applicable to the firm. As with any firm carrying out marketing the more general obligations associated with advertising will also apply. SRA requirements in relation to publicity are contained in the SRA Principles, the 2019 Codes and the SRA Transparency Rules. Principle 2 is particularly relevant in relation to publicity—you must act in a way that upholds public trust and confidence in the solicitors’ profession and in legal services provided by authorised persons. The SRA Codes of Conduct contain specific requirements in relation to client information and publicity. They apply only where you are providing services to the public or a section of the public, by which the SRA means external clients (consumer and commercial). You must ensure publicity in relation to your practice is accurate and not misleading, including that relating to your charges and the

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Partly written, partly oral contracts—parties not bound by non-existent terms (Stonard v Green Shoots)

Commercial analysis: This case involved the consideration of the terms of a consultancy agreement which were partly written and partly oral—the effect of a schedule that was referred to in the agreement, but which did not exist, whether or not commission was due after termination of the contract, and the principles of quantum meruit. Written by Michael Budd, partner and head of company commercial at Longmores Solicitors.

Asset Manager Can't Get Finder's Fees From UK Hedge Fund

Law360, London: A claim brought by an asset manager against a London-based hedge fund over unpaid introducer fees was dismissed by London's High Court on Thursday, 20 December 2018, with the judge concluding that the construction of various agreements between the parties did not warrant the additional fees being sought.