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Regulation of Firms, Manager (responsible for SRA compliance),…
Regulation of Firms
Regulation and Ethics
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Code of Conduct for solicitors, Registered European Lawyers and Registered Foreign Lawyers
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How are firms regulated?
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Risk-based approach - SRA not setting prescriptive rules for firms - publishes a risk analysis every year. Firms must take steps to guard against those risks.
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Are referrals allowed?
Referrals are allowed but must follow CCS 5.1 - in relation to any fee-sharing arrangement relevant etc. Must notify client of any financial interest in the introducer etc.
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ALL FIRMS MUST TAKE OUT PROFESSIONAL INDEMNITY INSURANCE - must notify insurer immediately if third party/client complains.