Legal Services
LEGAL SERVICES: REVISION NOTES
CONTENT
1. Legal Services and Regulatory framework
2. Equality Act
3. Financial Services
4. Money Laundering and the Proceeds of Crime Act 2002
5. Funding of Legal Services
LEGAL SERVICES AND REGULATORY FRAMEWORK
RESERVED LEGAL ACTIVITIES
Legal Services Board Oversees and coordinates the regulation of legal
services
The exercise of a right of audience
The conduct of litigation
Reserved instrument activities preparing and lodging an instrument (formal
legal document) dealing with the transfer or charge of land (e.g. a contract for the
sale of land), relating to real or personal estate or an instrument relating to court
proceedings
Probate activities Legal Services the documents needed to obtain a grant
of probate or a grant of letters of administration or documents to oppose such a
grant.
Notarial activities certifying and authenticating certain document
The administration of estates e.g. an affidavit
A reserved legal activity can only be carried out by those authorised by an approved
regulator.
Solicitors Regulation Authority
Various other boards for different areas that can provide authority.
REGULATORY ROLE OF THE SRA
They take a risk-based approach to regulation Risk is a combination of the impact of
a certain event occurring (the potential harm that could be caused) and the probability
that the event will occur (the likelihood of the event occurring.
SRA can authorise:
Recognised bodies
Sole practices
Partnerships
Licensed bodies (ABS: Alternative Business Structure): ownership is not
wholly in the hands of those legally qualified. It will therefore require a Head of
Finance and Administration (HOFA).
, Legal Services
Under paragraph 7.6 of the SRA Code of Conduct for Solicitors, RELs and RFLs, a
solicitor must inform the SRA promptly if they are subject to any criminal
charge, conviction or caution
If the incident is relevant to the assessment of the applicant’s character and
suitability.
Regardless of jurisdiction
To be authorised, the solicitor must:
Be admitted as a solicitor
Have their name on the roll
Have in force a certificate in issue by the Society
INDEMNITY INSURANCE
Caters for the possibility that the insured may be guilty of a breach of professional duty
which gives rise to financial loss or damage to a third party.
The cover will need to be in excess of the minimum terms and conditions set under the
SRA Indemnity Insurance Rules.
meet the minimum requirements for recognised bodies the sum must be
at least £3m and at least £2m in all other cases. The firm cannot exclude liability
below the minimum level of cover.
Be adequate
Be appropriate
Firms must be open and inform the Clients about the professional indemnity insurance
Rules provide that coverage will be extended for a maximum of 90 days if the law
firm cannot find a new qualifying insurance policy when the original policy comes
to an end
EQUALITY ACT 2010
Protected Characteristics:
Age
Sex
Sexual-orientation
Disability
Race
Pregnancy/maternity
Religion and Belief
Forms of discrimination outlawed by EA 2010
Types of Elements
discrimination
Direct Comparator
discrimination Making them less favourable
Due to a protected characteristic
(age could be defended)
Indirect Policy put in practice which is universal but
discrimination Has an adverse impact on those who share a protected
LEGAL SERVICES: REVISION NOTES
CONTENT
1. Legal Services and Regulatory framework
2. Equality Act
3. Financial Services
4. Money Laundering and the Proceeds of Crime Act 2002
5. Funding of Legal Services
LEGAL SERVICES AND REGULATORY FRAMEWORK
RESERVED LEGAL ACTIVITIES
Legal Services Board Oversees and coordinates the regulation of legal
services
The exercise of a right of audience
The conduct of litigation
Reserved instrument activities preparing and lodging an instrument (formal
legal document) dealing with the transfer or charge of land (e.g. a contract for the
sale of land), relating to real or personal estate or an instrument relating to court
proceedings
Probate activities Legal Services the documents needed to obtain a grant
of probate or a grant of letters of administration or documents to oppose such a
grant.
Notarial activities certifying and authenticating certain document
The administration of estates e.g. an affidavit
A reserved legal activity can only be carried out by those authorised by an approved
regulator.
Solicitors Regulation Authority
Various other boards for different areas that can provide authority.
REGULATORY ROLE OF THE SRA
They take a risk-based approach to regulation Risk is a combination of the impact of
a certain event occurring (the potential harm that could be caused) and the probability
that the event will occur (the likelihood of the event occurring.
SRA can authorise:
Recognised bodies
Sole practices
Partnerships
Licensed bodies (ABS: Alternative Business Structure): ownership is not
wholly in the hands of those legally qualified. It will therefore require a Head of
Finance and Administration (HOFA).
, Legal Services
Under paragraph 7.6 of the SRA Code of Conduct for Solicitors, RELs and RFLs, a
solicitor must inform the SRA promptly if they are subject to any criminal
charge, conviction or caution
If the incident is relevant to the assessment of the applicant’s character and
suitability.
Regardless of jurisdiction
To be authorised, the solicitor must:
Be admitted as a solicitor
Have their name on the roll
Have in force a certificate in issue by the Society
INDEMNITY INSURANCE
Caters for the possibility that the insured may be guilty of a breach of professional duty
which gives rise to financial loss or damage to a third party.
The cover will need to be in excess of the minimum terms and conditions set under the
SRA Indemnity Insurance Rules.
meet the minimum requirements for recognised bodies the sum must be
at least £3m and at least £2m in all other cases. The firm cannot exclude liability
below the minimum level of cover.
Be adequate
Be appropriate
Firms must be open and inform the Clients about the professional indemnity insurance
Rules provide that coverage will be extended for a maximum of 90 days if the law
firm cannot find a new qualifying insurance policy when the original policy comes
to an end
EQUALITY ACT 2010
Protected Characteristics:
Age
Sex
Sexual-orientation
Disability
Race
Pregnancy/maternity
Religion and Belief
Forms of discrimination outlawed by EA 2010
Types of Elements
discrimination
Direct Comparator
discrimination Making them less favourable
Due to a protected characteristic
(age could be defended)
Indirect Policy put in practice which is universal but
discrimination Has an adverse impact on those who share a protected
