The regulation of legal services

Question 1

What are reserved legal activives?

Answer 1

They are the aspect of legal practice that only a suitably qualified legal professional is permitted to carry out by virtue of the Legal Services Act 2007

Question 2

Who is allowed to carry out reserved legal activities?

Answer 2

Those authorised or exempt from requiring authorisation

Question 3

What are the reserved legal activities?

Answer 3

• the exercise of a right of audience
• the conduct of litigation
• reserved instrument activities
• probate activities
• notarial activities
• the administration of oaths

Question 4

What are reserved instrument activities?

Answer 4

Those that involve preparing or lodging certain legal instruments. They also include the activities dealing with the transfer, charge or registration of land or any instrument relating to court proceedings

Question 5

What is not classed as a reserved instrument activity?

Answer 5

• drafting wills and other testamentary instruments
• drafting agreements not intended to be executed as a deed
• drafting a letter or power of attorney

Question 6

What are examples of regulated legal service providers?

Answer 6

• solicitors
• barristers
• chartered legal executives
• licensed conveyancers
• notaries
• chartered accountants

Question 7

What are examples of approved regulatory bodies?

Answer 7

• SRA
• BSB
  _ CILEx regulation
• Council for Licensed conveyancers
• Master of the Faculties
• Institute of Chartered accountants

Question 8

What is responsible for overseeing and monitoring the regulators?

Answer 8

The Legal Services Board

Question 9

Do the regulators just regulate reserved legal activities?

Answer 9

No, the regulation extends to all legal services the authorised person carries out

Question 10

Are there any exceptions to requiring authorisation for reserved legal activities?

Answer 10

Yes, they are contained in s19

Question 11

To be able to practice a as a solicitor what must a person satisfy?

Answer 11

Three requirements:
1. admitted to the profession - education/training & character suitability requirements
2. added to the roll
3. obtains a practising certificate - renewed on a annual basis

Question 12

Do freelance solicitors have to be authorised as a recognised sole practice?

Answer 12

They do unless their practice only conducts activities that are not reserved legal activities or they provide reserved legal activities through an authorised body

Question 13

As well as having a practice certificate, what else does a solicitor need to do to be able to provide reserved legal activities?

Answer 13

They need to carry on all reserved legal activities through an authorised body/firm

Question 14

What are the 7 core principles of the SRA standards and regulations?

Answer 14

Act:
1. in a way that upholds constitutional principle of the rule of law and the proper administration of justice
2. in a way that upholds public trust and confidence in the solicitors’ profession and in legal services
3. with independence
4. with honesty
5. with integrity
6. in a way that encourages equality, diversity and inclusion
7. in the best interests of each client

Question 15

What approach does the SRA adopt to regulation?

Answer 15

A risk-based approach

Question 16

What is the risk evaluated by?

Answer 16

Impact and probability

Question 17

What insurance are all SRA authorised firms and freelance solicitors required to have?

Answer 17

Appropriate professional indemnity insurance

Question 18

What does professional indemnity insurance cover?

Answer 18

It provides cover to the insured party should they breach a professional duty that causes financial loss or damage to a client

Question 19

How much does the insurance have to be able to cover?

Answer 19

At least £3 million for any one claim (exclusive of defence costs)