Professional Conduct and Ethics

Question 1

What are the principles?

Answer 1

The starting point when considering any ethical dilemma

Question 2

The principles state that you must (10)

Answer 2

Uphold the rule of law and proper administration of justice; act with integrity; not allow your independence to be compromised; act in the best interests of each client; provide a proper standard of service to clients; behave in a way that maintains public trust in you and the provision of legal services; comply with legal and regulatory obligations and deal with regulators in an open, timely and cooperative manner; run business or carry out role in the business effectively and in accordance with proper governance and sound financial and risk management principles; same but also in a way that encourages equality of opportunity and respect for diversity; protect client money and assets

Question 3

Own conflict of interest

Answer 3

Where there is a conflict of interest between you and client

Question 4

Client conflict

Answer 4

Where there is a conflict of interest between current clients

Question 5

Where there is a risk of conflict, you should-

Answer 5

Never act

Question 6

Where there is a conflict between the duty of confidentiality and the duty of disclosure, which one prevails?

Answer 6

Disclosure

Question 7

Money laundering

Answer 7

The process by which the proceeds of crime and the true ownership of those proceeds are changed sot that the proceeds appear to come from a legitimate source