The following Practice Compliance guidance note provides comprehensive and up to date legal information covering:
This Practice Note lists all new and updated content to reflect the SRA Standards and Regulations, in force from 25 November 2019.
The Standards and Regulations include two new Codes of Conduct (a Code for Individuals and a Code for Firms), vastly shortened SRA Accounts Rules and new rules around authorisation.
The Standards and Regulations are available from the SRA website. In addition, the SRA has issued a raft of supporting guidance and has indicated that further guidance and tools will follow.
It can be difficult to know what to prioritise. It is not realistic to expect firms to update their policies and procedures in all areas of compliance in one hit. Practice Note: SRA changes—project planning suggests an order of priority for reviewing your key compliance policies, procedures, systems and controls. It is based on our own analysis of the Standards and Regulations rather than any indication of priorities from the SRA—which has not been forthcoming. You should therefore consider whether the suggested order of priority is appropriate for your firm.
This Practice Note tells you, on a month-by-month basis, whether we have amended existing content or published new content to reflect the SRA regulatory reforms. We will also keep you posted on developments through our news alerts and monthly highlights, and remind you of key deadlines and
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