This training course is designed to address Lexcel and SRA requirements relating to the handling of conflicts of interest in the firm’s practice areas.
Under Outcomes Focused Regulation (OFR) there is now a switch away from detailed prescriptive rules and guidance to a series of general mandatory Outcomes supported by non-mandatory Indicative Behaviours as set out in the chapters of the 2011 Code of Conduct.
In this course we shall consider how we can deal with actual and potential conflicts and be able to demonstrate to the SRA and the Lexcel assessor that we have effective systems and controls in place.
Objectives:
- To understand the SRA approach to OFR and Conflicts of Interests
- To consider the key mandatory Principles and Outcomes
- To examine evidence of compliance through the Indicative Behaviours
- To address policies needed for both ‘own interest’ and client conflicts
- To give examples of practical steps to enable you to comply with your obligations through scenarios and exercises
Contents:
- 10 Mandatory principles
- Structure of new Code of Conduct
- Approach to OFR and firm-based regulation
- Client Care
- Conflicts of interest
- Confidentiality and disclosure
- Drafting and communicating policies
- The Management of Business
- Summary and questions
CPD: 2 hours
Trainer: Peter Warner, MBA, Solicitor and Consultant Compliance Officer. Peter regularly advises the country’s top firms on Risk Management, Compliance and Quality Standards. Between April and October 2010 Peter was involved in the Relationship Management pilot project with the SRA, part of their move towards Outcomes Focused Regulation.