The following Practice Compliance practice note provides comprehensive and up to date legal information covering:
This Practice Note reflects advice, guidance and updates issued by the SRA and Law Society on the impact of the coronavirus (COVID-19) on the day-to-day operation of law firms. It is supplemented in various places with more detailed guidance from LexisPSL.
See also: Coronavirus (COVID-19) toolkit. This covers a variety of subjects such as employment issues, business continuity, contracts including execution, dispute resolution and tax implications.
The SRA expects solicitors and firms to continue to meet the high standards the public expects. This means you must do everything you reasonably can to comply with the SRA’s Standards and Regulations and follow the SRA Principles—including serving the best interests of your client and upholding the rule of law.
The SRA expects firms to have appropriate contingency plans for disruption, but recognises that these are exceptional circumstances and the coming months could present particularly challenging issues. According to the SRA ‘we must all remain pragmatic’.
The SRA will take a proportionate approach, including to enforcement. If the SRA receives complaints, it will take account of mitigating circumstances as set out in its enforcement strategy—see Practice Note: SRA enforcement strategy. This includes focusing on serious misconduct and clearly distinguishing between people who are trying to do the right thing and those who are not.
The SRA recommends that if you do face compliance difficulties linked to the virus, you should
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This Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice Note:•explains the purpose of having an intercreditor agreement and when an intercreditor agreement would be used instead of a deed of priority or subordination deed•provides links to
Express and implied contractual terms distinguishedContractual terms may be either express or implied:•express terms—are terms which are actually recorded in a written contract or openly expressed in an oral contract at the time the contract is made (or there may be a combination of written and oral
The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to insurers: the Conduct of Business Sourcebook (COBS) and the Insurance Conduct of Business Sourcebook (ICOBS). This Practice Note considers how these
Deceit—what is it?A deceit occurs when a misrepresentation is made with the express intention of defrauding a party, subsequently causing loss to that party.The elements of a claim in deceit are:•a clear false representation of fact or law•fraud by the maker, in the sense that they knew that the
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