Risk

Risk guidance:

Traditionally, claims against solicitors and other professionals increase during times of recession. Although the present recession has not seen the large increase...

Practice Note

Background It is good practice to assess the risk profile of different types of work. Key risks in relation to probate work include: • not proving the...

Practice Note

Poor quality instructions, delay, failure to properly assess capacity, drafting errors and confusion over the scope of the retainer are all strong contributors to...

Practice Note

This Practice Note is based on reporting requirements in the SRA Codes of Conduct 2019 (in force from 25 November 2019) as amended by the SRA Regulatory Arrangements...

Practice Note

This Practice Note explains how to develop and embed a successful file audit/file review process in your firm. See Practice Note: File audits or file...

Practice Note

The diagram below shows key stages in formulating a business continuity plan. For guidance on the stages shown in the diagram, see Practice Note: Formulating a business...

Practice Note

This Practice Note covers regulatory requirements that must be complied with when preparing a written strategy for continuing the organisation’s business in the event of...

Practice Note

This factsheet is based on Travelers’ claims data over the six years to September 2014. It provides an overview of: • the relative risks involved in the different areas...

Practice Note

The COLP must take all reasonable steps to ensure compliance with: • the SRA Handbook, except the SRA Accounts Rules • other general regulatory requirements that apply to...

Practice Note

This Practice Note contrasts the requirements in the SRA’s 2011 and 2019 regimes in relation to compliance officers (COLPs and COFAs) and breach reporting. For more...

Practice Note

This Practice Note explains whether law firms should have a compliance plan and, if so, what you may wish to include. It reflects the SRA Standards and Regulations 2019....

Practice Note

No firm can afford to be complacent when it comes to compliance. The SRA has made it clear that firms that cannot or will not put their house in order will...

Practice Note

This Practice Note explains how you can deal with your professional indemnity insurance (PII) brokers and underwriters, including: • questions to ask your broker •...

Practice Note

No firm can afford to be complacent when it comes to compliance. The SRA has made it clear that firms adopting a less than comprehensive approach to compliance will face...

Practice Note

Supervision means the management of people and their work. Proper supervision is a statutory and regulatory obligation. You may have to justify your supervision...

Practice Note

There is no specific regulatory requirement to have a file audit/review process. If you want to achieve Lexcel accreditation then there is a requirement for you to have a...

Practice Note