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SQE1: Legal Services > Regulation of Legal Activities > Flashcards

Regulation of Legal Activities Flashcards

1
Q

Which act provides the framework for the regulation of legal activities?

A

Legal Services Act 2007

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2
Q

Who can carry out legal activities?

A

‘Reserved legal activities’: can only be provided by those authorised to do so

All other legal activities: can be provided by anyone

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3
Q

What are the 6 types of reserved legal activities which can only be carried out by those authorised to do so?

A

(a) Exercise of a right of audience

(b) Conduct of litigation

(c) Reserved instrument activities

(d) Probate activities

(e) Notarial activities

(f) The administration of oaths

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4
Q

Is the conduct of litigation a reserved legal activity? What does it entail?

A

Yes - the conduct of litigation is a reserved legal activity

Issuing, commencing, prosecuting, defending legal proceedings & performing any ancillary function in relation to those proceedings before any court

Nb. Giving legal advice in connection with court proceedings & preparing trial bundle are not ancillary

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5
Q

Which reserved instrument activities are reserved legal activities?

A

The preparing & lodging of any instrument (a formal legal document) dealing with:

  • The transfer or charge of land
  • Court proceedings
  • Relating to real/personal estate

Wills & powers of attorney are excluded

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6
Q

Who can authorise a person to carry out a reserved legal activity?

A

One of the approved regulators for legal services

SRA
BSB
CILEx Regulation
Council for Licensed Conveyancers
IP Regulation Board
Costs Lawyers Standards Board
Master of Faculties (notaries)

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7
Q

What are the approved regulators for legal services?

A

SRA
BSB
Cilex Regulation
Council for Licensed Conveyancers
IP Regulation Board
Costs Lawyers Standards Board
Master of Faculties (notaries)

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8
Q

Can a person carry out reserved legal activities without authorisation?

A

Some circumstances in which a person is exempt in relation to being authorised to carry out reserved legal activities

eg. A McKenzie friend will be exempt if the court grants them rights of audience in a particular case

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9
Q

Who oversees & coordinates the regulation of legal services?

A

The Legal Services Board

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10
Q

What are the two things which underpin SRA regulation?

A

i. The SRA Principles

ii. Risk-based approach to regulation

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11
Q

What are the 7 SRA Principles?

A
  1. Uphold the rule of law & the proper administration of justice
  2. Uphold public trust & confidence in the solicitors’ profession
  3. With independence
  4. With honesty
  5. With integrity
  6. In a way that encourages equality, diversity & inclusion
  7. In the best interests of each client
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12
Q

What is the SRA’s risk-based approach to regulation?

A

Assesses the risk an event poses to the goal of the SRA achieving its regulatory objectives

Focuses on misconduct most likely to harm the public interest

‘Risk’: combination of the potential harm of an event & the likelihood that event will occur

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13
Q

Which types of businesses can the SRA authorise?

A

Recognised sole practices

&

Recognised bodies

&

Licensed bodies

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14
Q

What are ‘recognised bodies’ for the purposes of SRA authorisation?

A

A legal services body in which all managers & interest holders are legally qualified - essentially when:

  • At least 75% of the body’s managers are legally qualified,
  • The proportion of shares & voting rights held by legally qualified persons is at least 75%, &
  • Managers who are not legally qualified are SRA-approved

A recognised body may be a: partnership, LLP, company

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15
Q

What is a ‘licensed body’ for the purposes of SRA authorisation?

A

An alternative business structure (ie. ownership / control / management not wholly legally qualified) - must be:

  • At least one manager authorised by SRA or another approved regulator; &
  • A ‘licensable body’ ie. non-authorised person is manager/interest holder
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16
Q

What is the effect of SRA authorisation on a firm?

A

They are entitled to carry on all reserved legal activities (except notarial)

17
Q

What compliance officers must an SRA-authorised firm have?

A

An SRA-approved Compliance Officer for Legal Practice (COLP) & an SRA-approved Compliance Officer for Finance and Administration (COFA)

Nb. If it is a licensed body will be a Head of Legal Practice (HOLP) & a Head of Finance & Administration (HOFA)

18
Q

What two things are necessary for an individual to be authorised by the SRA?

A

Admission as a solicitor + obtaining a practising certificate

19
Q

Will a solicitor be admitted if they have a criminal record?

A

Depends on the nature of the criminal conduct

Most serious (eg. custodial/suspended sentence for perjury, violence, terrorism; caution for dishonesty, violence, discrim, sexual) –> likely to be refused

Serious (eg. caution for criminal offence not within ‘most serious’ category) –> may be refused

20
Q

When can a solicitor apply for a practising certificate?

A

If their name is on the roll + have sufficient knowledge of written & spoken English/Welsh + not suspended from legal practice

21
Q

What does professional indemnity insurance cover?

A

Civil claims made against a solicitor / firm for breaches of professional duty giving rise to financial loss or damage to a third party

22
Q

What insurance must all SRA-authorised firms take out & maintain?

A

Professional indemnity insurance

  • Minimum sum is £3m for any one claim for recognised & licensed bodies (£2m for all other bodies)
  • Must be ‘adequate & appropriate’
  • Firms must be open with their clients about their PII
23
Q

What is the minimum sum insured for any one claim for professional indemnity insurance?

A

Recognised & licensed bodies: £3m

Other bodies: £2m

24
Q

Do firms need to tell their clients anything about their professional indemnity insurance?

A

YES - must be open with their clients about their PII

25
Q

What happens if an SRA-authorised firm’s professional indemnity insurance coverage ends

A

Will be extended for max. 90 days if the law firm can’t find a new qualifying insurance policy but:

  • Firm must notify the SRA that it has entered into this extended period and
  • Firm must not take any new work after 30 days if it hasn’t found replacement cover yet

SQE1: Legal Services (6 decks)

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