Duties to the SRA

Question 1

What must a solicitor notify the SRA about (in relation to himself)?

Answer 1

• if he’s subject to criminal charge/conviction/caution,
• if he’s bankrupt/subject to debt relief order/in voluntary arrangement with creditors,
• if there’s a material change to the information about him he’s previously provided to the SRA,
• if becomes aware information about him given to the SRA is wrong/misleading/incomplete

Question 2

What must solicitors report to the SRA?

Answer 2

Any “serious breaches” of regulations by them or anyone else

This can be satisfied by reporting to COLP (unless unsatisfied the COLP will inform the SRA)

Question 3

Factors in what is a “serious breach”:

Answer 3

1. nature of allegations
2. intent (dishonest/deliberate more serious)
3. harm done
4. vulnerability of victim

Question 4

Can solicitors prevent anyone from reporting to the SRA?

Answer 4

No

Question 5

Which compliance officers must firms have?

Answer 5

COLP and COFA

Question 6

Who does the responsibility for compliance with the Code for Firms lie with?

Answer 6

Firm’s managers (not COLP)

Question 7

When may a COLP or COFA be liable under the Code for Firms?

Answer 7

Only if they fail to meet their own responsibilities (eg. the firm’s compliance policies are inadequate)

Question 8

COLP must take all reasonable steps to ensure…

Answer 8

• compliance with terms of firm’s authorisation,
• employee’s compliance with SRA’s regulations,
• prompt report to SRA made if “serious breach” occurred,
• SRA promptly informed of facts the COLP reasonably believes the SRA should know

Question 9

COFA must take all reasonable steps to ensure…

Answer 9

• employees comply with obligations under the SRA Accounts Rules,
• prompt report to SRA made if “serious breach” of Account Rules,
• SRA promptly informed of facts the COFA reasonably believes the SRA should know