The following Practice Compliance practice note provides comprehensive and up to date legal information covering:
This Practice Note provides guidance on the SRA Codes of Conduct, contained in the SRA Standards and Regulations, in force from 25 November 2019. The SRA Standards and Regulations include two Codes of Conduct—a Code forSolicitors, RELs and RFLs and a Code for Firms.
The Standards and Regulations (including the Codes of Conduct) set out the standards and requirements that individual solicitors and firms regulated by the Solicitors Regulation Authority (SRA) are expected to achieve and observe:
for the benefit of clients, and
in the general public interest
This Practice Note explains how the SRA Codes of Conduct are structured, who is responsible for compliance with them and the potential consequences of breach. It contains a series of tables setting out and contrasting how the requirements in the Codes apply to individuals and to firms.
For guidance on the 2019 regulatory regime, see Practice Notes:
SRA regulatory regime—from 2019
SRA Standards and Regulations
SRA Accounts Rules 2019
Breach reporting 2019—law firms
The Codes of Conduct should be read in the context of the SRA Principles, which set out the ethical standards expected of all those regulated by the SRA. These are mandatory and require you to act:
in a way that upholds the constitutional principle of the rule of law, and the proper administration of justice
in a way that upholds public trust and
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What is a res judicata?A res judicata is a decision given by a judge or tribunal with jurisdiction over the cause of action and the parties, which disposes, with finality, of a matter decided so that it cannot be re-litigated by those bound by the judgment, except on appeal.Final judgments by
Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:•transfer, lease or mortgage inter vivos, or•by will (it passes on intestacy)No cloggingIt is a fundamental principle of a mortgage that there must be no clog
Brexit: The UK's departure from the EU on exit day ie Friday 31 January 2020 has implications for practitioners dealing with provisions in the CPR relevant to cross border matters, including CPR 5.4C (discussed below). For guidance on the impact of Brexit on the CPR, see Cross border
Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its legislation in respect of the financial services sector. However, Directives, allowing Member States greater flexibility in how they implement
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