Conflicts of Interests Flashcards
What are the two main types of conflict of interest under the SRA Code of Conduct?
A) Personal conflict and client conflict
B) Business conflict and legal conflict
C) Conflict between two or more clients and own interest conflict
D) Regulatory conflict and firm conflict
C) Conflict between two or more clients and own interest conflict
In which of the following situations can a solicitor act?
A) When there is an own interest conflict
B) When the solicitor has a financial stake in the outcome
C) When acting for two clients in a substantially common interest with safeguards in place
D) When the client agrees verbally without documentation
C) When acting for two clients in a substantially common interest with safeguards in place
Under Paragraph 6.2 of the SRA Code of Conduct 2019, when may a solicitor act in a conflict of interest situation?
A) When the clients have a substantially common interest or are competing for the same objective, and conditions are met
B) When the firm’s senior partner provides consent
C) When the conflict benefits the solicitor financially
D) When the client verbally agrees without written confirmation
A) When the clients have a substantially common interest or are competing for the same objective, and conditions are met
What conditions must be met for a solicitor to act in a conflict of interest situation?
A) The clients must have given informed consent in writing
B) Effective safeguards must be in place to protect confidential information
C) The solicitor must be satisfied it is reasonable to act
D) All of the above
D) All the above.
What key information should a solicitor obtain from a client to carry out a conflict check?
A) Name, address, telephone number, area of law advice is needed, and details of any potential opponents
B) The client’s financial background and income details
C) The client’s personal opinions about the case
D) A signed contract before running any checks
A) Name, address, telephone number, area of law advice is needed, and details of any potential opponents
According to the SRA Code of Conduct, when must a solicitor NOT act in a matter?
A) When there is a conflict of interest or a significant risk of such a conflict
B) When the client requests confidential treatment of the matter
C) When the solicitor personally disagrees with the client’s legal position
D) When the matter is financially complex
A) When there is a conflict of interest or a significant risk of such a conflict
Under what circumstances may a solicitor act despite a conflict of interest?
A) When the clients have a substantially common interest or are competing for the same objective, and conditions are met
B) When the solicitor believes they can manage the conflict informally
C) When the firm’s senior partner provides verbal approval
D) When the solicitor does not directly benefit from the matter
A) When the clients have a substantially common interest or are competing for the same objective, and conditions are met
What does it mean for clients to have a substantially common interest in a matter?
A) They have a strong consensus on the goal and how to achieve it
B) They are co-defendants in a criminal case
C) They have completely opposing legal positions
D) They both rely on the same legal representative but for different matters
A) They have a strong consensus on the goal and how to achieve it
What are the conditions that must be satisfied under 6.2(i) to (iii) before a solicitor can act in a conflict of interest situation?
A) Clients must give informed consent in writing
B) Effective safeguards must be put in place to protect confidential information
C) The solicitor must be satisfied it is reasonable to act for all clients
D) All of the above
D) All the above
When acting in a conflict of interest situation, how can a solicitor safeguard client confidentiality?
A) By implementing restricted access to client information within the firm
B) By verbally instructing staff to maintain confidentiality
C) By keeping all client files in the same location for easy access
D) By ensuring all communications are conducted via email only
A) By implementing restricted access to client information within the firm
What must a solicitor consider when determining if it is reasonable to act for all clients in a conflict of interest situation?
A) The vulnerability of each client and whether they fully understand the situation
B) The financial impact on the firm
C) Whether the case involves a high-profile client
D) The personal opinion of the solicitor regarding the clients’ objectives
A) The vulnerability of each client and whether they fully understand the situation
