The Regulation Of Provided Legal Services

Regulatory risk management brings many benefits to an organisation. It goes without saying that, put very simply, proper and effective regulatory risk management keeps an organisation out of trouble. This is because it informs the decision makers on how to operate the business, from managing day-to-day activities such as processing routine transactions, to attending to atypical matters such as assisting in a regulator’s investigation. With enhanced decision making and greater operational efficiency, regulatory risk management can derive a genuine competitive advantage for any organisation. Excellence in regulatory risk management also differentiates – an organisation can be distinguished from its competitors by the confidence the market has in

In my past job, the company mandates risk assessment before doing for any business transactions, so that we are in compliant with relevant regulations and do not do any risky deals that end up with litigation or incur losses to our business. The guidelines also apply for non-business transactions and any internal decisions. The strategy is to take a risk that is known and manageable or spread, so that we add value to the company's profit and shareholders. The task was to scale the current information system, so that we can comply with regulatory requirement which always has time commitment.

Code of conduct is a rule set by an organisational body for specific issues that become a standard practice for all who works in the organisation or represent themselves outside of the organisation, (Marinda, 2011). Code of conducts is devised by a legal framework that prevents contradictions and builds trust between workers, patients and visitors in all. However all the codes are very important and must be followed e.g., ethical principles, and legislations.

establishes customer's legal and statutory rights; establishes organisation’s legal and statutory responsibilities; products and/or services must meet regulations and legislation; staff need to follow clear procedures in order to remain compliant; organisations must have clear procedures in place and staff should be trained in these

The Code of Professional Conduct was adopted by the membership to provide guidance and rules to all members—those in public practice, industry, government and education—in the performance of their

During August 2015 – 2016 I completed a placement at Shoosmiths Solicitors; a national law firm which deals with many different sectors in law such as, corporate, banking & finance, real estate, and competition. During my placement year I worked with the Recoveries Services Practice Group. My role involved undertaking a caseload of instructions, which needed to be managed effectively and efficiently. I liaised directly with our clients, their customers (Debtors), courts and solicitors, in order to ensure the best possible recoveries were achieved, whilst ensuring that full compliant with the relevant regulatory bodies i.e. Solicitors Regularity Authority (SRA) and Financial Conduct Authority (FCA). Throughout the year I dealt a vast amount of files on behalf of the clients. Following negotiation with customers to arrange an affordable payment, when unable to achieve settlement or agree repayment, I was required to carry out litigation procedures plans. The most desired outcome was to deliver the best possible service to our clients in a professional and efficient manner, to ensure the desired outcomes were delivered.

PARTIES: IN THE MATTER of the Legal Profession Act 2004 (Qld) and the Supreme Court (Legal practitioner Admission) Rules 2004

Memorandum and Objective: The purpose of the memorandum is to provide a detailed review and analysis of the legal situation considering “Paslay, Bryan & Brooks, Barristers & Solicitors**” and

risk is the essence of the Risk Principle and is the bridge between assessment and effective

A lawyer is commissioned to be neither a friend of the client nor to make moral judgements, their job is to follow the client’s instruction, provide professional legal advice and act on their behalf in legal proceedings. A lawyer should not purse any unlawful activities and this can be supported by briefly introducing theories on ethics, referencing the Solicitors Regulation Authority (SRA) and other statutory provisions; such as anti-money laundering regulations.

The Law Commission was set up by the Law Commissions Act 1965 for the purpose of promoting the reform of the law. The Law Commissioners are: The Honourable Mr Justice Carnwath CVO, Chairman Professor Hugh Beale Mr Stuart Bridge Professor Martin Partington Judge Alan Wilkie, QC The Secretary of the Law Commission is Mr Michael Sayers and its offices are at Conquest House, 37-38 John Street, Theobalds Road, London WC1N 2BQ. The terms of this paper were agreed on 3 December 2001. The text of this paper is available on the Internet at: http://www.lawcom.gov.uk

The relationship between solicitors and society is a unique one. If law is the system of rules which a particular country or community recognizes as regulating the actions of its members , then solicitors are the agents who operate in its vast framework, acting as a voice for the people. In this sense, it is undeniable that the legal profession exists to serve society as well as the court. Because of the nature of this relationship the conduct of solicitors is paramount in ensuring that public trust is maintained in the services solicitors offer. This has resulted in the public expectation that solicitors conduct themselves in an ethical manner.

Several literatures have derived theories to explain and measure the risk management and regulation challenges faced by businesses in their operations. According to Cox (2007), businesses are affected by diverse risks both in their internal and external environment. Among them include financial and marketing risks, violence crises, and natural disasters. Due to uncertainty of the consequences, several authors have described risk management as the counter measure to reduce impact. Risk is defined as events whose unfavorable consequences have a far reaching effect or are unacceptable. In recent studies, risk assessment is a critical topic for research, since risk occurrence is present in every business environment. Szylar

Every institution needs to accept some risk in order to earn profits; in line with their accepted risk profile and within established risk appetite. EWB’s “Risk

When regarding Regulation of the profession, the 2006 Competition Authority’s report summarises, that they would like to see the introduction of an entirely independent statutory body entitled the Legal Services Commission to provide external regulation to the profession, it explains that The Bar Council and The Law Society are the representative bodies for Solicitors and Barristers, this status requires them to lobby on their behalf of their members. A conflict is created as they are also for the most part the soul regulators for the Professions. The Legal Services Commission proposed by The Competition Authority suggestion still allows the representative bodies, some form of day to day regulatory function but it would be a requirement that this function be held and operated completely separate from their individual duties as a representative body.