New SRA Codes of Conduct delayed to November
The Solicitors Regulation Authority has just announced that all its new rules (Principles, Codes of Conduct, Accounts Rules etc) will come into force on 25 November 2019 (so not April 2019 as once predicted).
Before they can come into force the SRA will need to publish guidance. Meanwhile you can register to access a beta version of the new rules (and guidance when available) on the SRA website at https://beta.sra.org.uk/beta-registration.
To help firms deal with the changes Socrates is providing the following:
- New Codes of Conduct Training: Vital for all fee earners. This online course explains the new Principles and the new Codes, and also explains what people need to know about the regulatory system. Highly interactive with lots of problem scenarios. A good hour in duration, the course will launch in the summer.
- New Accounts Rules Training: The new accounts rules are much shorter and generally simpler than the old. Training will be important for those who deal with or manage your client account. This course should also be available in the summer.
- New Conflicts of Interests Training: The rules are being re-written but the principles are not so very different. However this is an important topic, and we suggest all fee earners would benefit from training. The course is highly interactive and takes about an hour. Available October.
- Precedents completely revised: All your policies will have to reflect the new rules. So we are revising our COLP & COFA precedents (54 documents at the last count) so they reflect and refer to the new Codes and Principles rather than the old. That should be complete by June.
- PLUS for firms grappling with the CQS Practice Management Standards: Only relevant if your firm is in the Conveyancing Quality Scheme, and nothing to do with the SRA of course, but these standards come into force on 1 May. We are adding to our COLP & COFA service extra documents so all requirements are covered. We are also providing a grid identifying the precedent or part of a precedent you need for each standard. This should all be ready by early April.
We feel your pain.