Legal Services

Question 1

Can a solicitor employed by unregulated body seek right of audience and conduct litigation?

Answer 1

No

Question 2

What are specified investments?

Answer 2

Debuntures
Bonds
Insurance
Shares
Pension
Regulated mortgage
Investment

Question 3

Can solicitor recommend someone for specified investment?

Answer 3

Not if receives commission and does not account

Question 4

What is the takeover exclusion?

Answer 4

When transaction to acquire/ dispose of shares is 50% or more (between body, partnership, or connected individuals)

Question 5

What section can solicitors only do work under (FSMA)

Answer 5

S20

Question 6

What are the types of funding arrangements?

Answer 6

Private
Fixed fee
Conditional fee
DBA

Question 7

Is an interest in land a specified investment?

Answer 7

No

Question 8

Can you approach businesses for legal ?

Answer 8

Yes

Question 9

What is an exempt agreement

Answer 9

1. Number of repayments not exceed 12
2. Payment term not exceed 12m
3. Credit without interest or charge

Question 10

What is % requirement of legally qualified professionals for a firm to be a recognised body?

Answer 10

75%

Question 11

Where do you go for breach of Equality Act?

Answer 11

County court

Question 12

What is the max DBA?

Answer 12

50%

35% employment

25% PI

Question 13

Maximum CFA?

Answer 13

25%