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Summary LPC Professional Conduct and Regulations Revision Notes 2021 (New Rules) - Complete set ready for exam binder - Distinction 93% $19.40
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Summary LPC Professional Conduct and Regulations Revision Notes 2021 (New Rules) - Complete set ready for exam binder - Distinction 93%
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Course
LPC - Legal Practice Course
Institution
LPC - Legal Practice Course
Book
Legal Foundations 2019/2020
Full revision notes on Professional Conduct and Regulations for the LPC at the University of Law. These revision notes are set out in a way that is easy to understand and pointing out cross-references between sections. These notes summarise all the chapters from the Legal Foundations textbook neces...
1. THE LEGAL PROFESSION
1.1. Sole practitioner
1.2. Recognised bodies
2. REGULATING THE PROFESSION
2.1. Complaints against solicitors … p.1
2.2. The Legal Ombudsman … p.1
2.3. Outcomes for professional misconduct … p.2
2.4. Distinction between complaints about Professional Services and Negligence … p.3
2.5. The Solicitors Disciplinary Tribunal … p.3
2.6. Other powers of the SRA … p.3
2.7. Powers of the court … p.4
2.8. Negligence … p.4
2.9. SRA Compensation Fund … p.4
3. THE 7 SRA PRINCIPLES
4. OBTAINING INSTRUCTIONS
4.1. Advertising
4.1.1. SRA Transparency Rules
4.1.2. Unsolicited approaches
4.2. Agreements with third parties
4.2.1. Referral fees
5. THE RETAINER
5.1. Identity of the client … p.1
5.2. Refusal of instruction to act by solicitor … p.1
5.2.1. Duress or undue influence and vulnerable clients
5.2.2. Where a solicitor cannot act in the client’s best interests
5.2.2.1. Lack of time /resources/knowledge of law
5.2.3. Gifts from a client
5.2.4. Compliance with the law and the Codes
5.3. Duties to the client during the retainer … p.2
5.3.1. Duty of reasonable care and skill
5.3.2. Duty to act in the best interest of the client
5.3.3. Not taking advantage of client
5.4. Termination of retainer … p.3
5.4.1. By the client
5.4.2. By the solicitor
5.4.3. Automatic termination by law
5.4.4. Responsibilities on termination
5.5. Claim a Lien … p.3
6. CLIENT CARE AND COSTS
6.1. Client Care … p.1
6.1.1. Clients being able to make informed decisions
6.1.2. Level of service
6.1.3. Responsibilities of solicitor and client
6.1.4. Competence and Supervision
6.1.5. Client received and understands information on regulation
, 6.2. Information about costs … p.2
6.2.1. Provide clients with best possible information
6.2.2. Costs issues in litigation
6.3. Client care letter … p.2
6.4. Consumer Contracts Regulations 2013 … p.2
6.4.1. Requirement for ‘off-premises’ contract
6.5. Options available for solicitor’s fees … p.3
6.5.1. Hourly rate – time spent basis
6.5.2. Fixed fee
6.5.3. Conditional fee agreement (CFA)
6.5.4. Damages-based agreement (DBA)
6.5.5. Other methods of payment
6.6. Money on account at the start of transaction statutory rules … p.4
6.7. Solicitor’s bill … p.4
6.7.1. Interim ‘statute bills’ – Solicitors Act 1974
6.7.2. Interim bills – ‘bill on account’
6.7.3. Interest on bills – Contentious v Non-contentious
6.7.4. Enforcement of non-payment of bills
6.8. Client’s rights to challenge the bill … p.5
6.8.1. Assessment by court
6.8.2. Using the firm’s complaint procedure
6.9. Business agreements – will stop bills being assessed by court … p.6
6.10. Overcharging … p.7
6.11. Commission / discount / rebates – must be properly accounted … p.7
7. CONFIDENTIALITY AND DISCLOSURE
7.1. Duty of confidentiality – para 6.3 … p.1
7.2. Situations where confidential information may be disclosed … p.1
7.3. Duty of disclosure – para 6.4 … p.2
7.3.1. Mistakenly received docs
7.4. Placing confidential information at risk – para 6.5 … p.2
7.4.1. Exception: (a) Effective measures to safe guard information
7.4.2. Exception: (b) Informed consent
7.4.3. Professional embarrassment
7.5. Legal Advice Privilege … p.3
7.5.1. Litigation privilege
8. CONFLICT OF INTEREST – Principle 7
8.1. Types of conflict of interest … p.1
8.2. Conflict of interest between clients – para 6.2 … p.1
8.2.1. Exception: 6.2(a) – Substantially common interest exception
8.2.2. Exception: 6.2(b) – Competing for the same objective
8.2.3. Conditions for exceptions
8.3. Conflict of interest arise during the retainer between existing clients … p.2
8.4. Own interest conflict – para 6.1 … p.2
8.5. System and controls for identifying conflicts of interest – Firms para 2.1(a) … p.2
8.5.1. Factors to take into account
8.6. Other reasons to decline to act … p.2
8.7. Limited retainer … p.3
,9. DUTIES OWED TO THE COURT AND THIRD PARTIES
9.1. Duty to the court … p.1
9.1.1. Witnesses
9.1.2. Duty to disclose law and facts
9.2. Instructing counsel … p.2
9.3. Duty to third parties … p.2
9.3.1. Duty to beneficiaries
9.3.2. Contacting third parties that you know have legal representation
9.3.3. Dealing with people without legal representation
10. REQUIREMENTS OF PRACTICE
10.1. SRA Assessment of Character and Suitability Rules … p.1
10.1.1. Conduct and behaviour considered:
10.1.2. Disclosure when making application for admission or restoration to the roll
10.2. Practicing certificate to be a solicitor … p.2
10.3. Indemnity insurance is required by all … p.2
10.4. Duties to the SRA … p.2
11. UNDERTAKINGS – para 1.3
11.1. Breach of an undertaking … p.1
11.2. Oral or written undertakings are both binding … p.1
11.3. Terms of undertaking … p.1
11.3.1. When undertakings requests acts that are outside solicitor’s control
11.3.2. Undertakings ‘on behalf ’ of a client
11.3.3. Timescale
11.3.4. Costs
11.4. Solicitor should ONLY give undertaking with client’s authority and consent … p.2
11.5. Change of circumstances where undertaking was reliant on them … p.2
11.6. Enforcement of undertakings … p.2
11.6.1. Court
11.6.2. The SRA and the Solicitors Disciplinary Tribunal
11.7. Liability of others / third parties … p.2
12. MONEY LAUNDERING AND THE PROCEEDS OF CRIME ACT 2002
12.1. Money Laundering Regulations 2017 … p.1
12.1.1. Nominated officers and reporting procedures – firms to comply
12.1.2. Client due diligence
12.1.2.1. Simplified due diligence
12.1.2.2. Standard due diligence
12.1.2.2.1. Beneficial owners
12.1.2.3. Enhanced due diligence
12.2. Proceeds of Crime Act 2002 … p.3
12.2.1. Offence 1: Arrangements
12.2.1.1. Disclosure prior to the act taking place
12.2.1.2. Disclosure during prohibited act
12.2.1.3. Disclosure after prohibited act
12.2.2. Offence 2: Acquisition, use or possession
12.2.2.1. Adequate consideration defence
12.2.3. Offence 3: Failure to disclose
12.2.3.1. Information that qualifies under s 330
12.2.3.2. Defences
, 12.2.4. Offence 4: Tipping off
12.2.4.1. Disclosing a suspicious activity report
12.2.4.2. Disclosing an investigation
12.3. Criminal Finance Act 2017 … p.5
12.3.1. Tax evasion
13. FINANCIAL SERVICES - FINANCIAL SERVICES AND MARKETS ACT 2000
13.1. Regulated Activity … p.1
13.1.1. Are you in business?
13.1.2. Is there a specified investment, or does the specified activity relate to information about
a person’s financial standing or the setting of a specified benchmark?
13.1.3. Is there a specified activity?
13.1.4. Is there an exclusion?
13.1.4.1. Table on exclusions
13.2. Exemption for professional firms – s 327 exemption … p.3
13.3. The SRA Financial Services (Conduct of Business) Rules (COB Rules) … p.4
13.4. Consumer credit activity … p.4
13.5. Insurance distribution … p.5
13.6. Financial promotions … p.5
13.6.1. Exemptions
, The Legal Profession
® s.7 Bribery Act 2010: commercial organisations that fail to prevent persons associated with
them (including employees) committing bribery on their behalf
o Full defence: organisation to prove that, despite the bribery having occurred, they have
in place adequate procedures to prevent bribery by persons associated with it
® Legal services board: Created by the Legal Services Act 2007 supervises the ‘approved
regulators’ of the legal profession:
o SRA - for solicitors
o Bar Council - for barristers
o Institute of Legal Executives - for legal executives
o Council of Licensed Conveyancers - for licensed conveyancers
o Chartered Institute for Patent Attorneys - for patent attorneys
o Institute of Trade Mark Attorneys - for trade mark attorneys
o Association of Law Costs Draftsmen - for law costs draftsmen
o Master of the Faculties - for notaries public
Sole practitioner
® Will own and be responsible for firm in its entirety
® Cons:
o Costs – of hardware and software that is required to perform daily operations
o Practicality – cover when going on holiday
o Inability to specialise in 1 legal area – unless if running niche practice
® Organisation authorised by SRA as ‘recognised sole practice’
Recognised body
® Legal services body (Administration of Justice Act 1985) means where at least 75% of the
body’s managers are legally qualified, the proportion of shares and voting rights held by legally
qualified persons is at least 75% and managers who are not legally qualified are approved by
the SRA. In addition, at least one manager must be a solicitor (or registered European lawyer).
Forms:
® Partnerships: most firms operate this way.
o As the partners own the firm, they are entitled to share the profits generated by the
firm between them.
o Equity and salaried partners
® Limited liability partnerships: An LLP is an incorporated partnership. Instead of partners, LLPs
have members. The members will share in the profits of the LLP.
® Companies: A solicitors’ practice may be incorporated as a company registered under the
Companies Act 2006. The company will have directors and shareholders like any other
company.
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