The following Practice Compliance practice note provides comprehensive and up to date legal information covering:
Conflicts of interest can cause difficult and serious problems for solicitors and law firms, both from a compliance point of view and in your client relationships. If a conflict of interest arises, or there is a risk of one arising in the course of your work, it is imperative to:
have systems and controls in place to enable the conflict to be identified
know whether you can act or continue to act for the client(s) involved
understand the safeguards that may be needed to manage the conflict
The SRA Codes of Conduct (the SRA Code for Solicitors, RELs and RFLs (Code for Solicitors) and the SRA Code for Firms) refer to two types of conflict of interest as shown below:
A third category of ‘commercial’ conflicts can arise in practice. These are the sorts of
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