The recent attempt by the Solicitors Regulation Authority to introduce a “clear, easy to understand” code of ethics deserves praise, a risk and compliance solicitor has said.
The proposal for two separate codes of conduct, one for firms and one for individuals, is an attempt to “remove the, often blurred, line between individual and entity responsibility”, says Tony Harvey, head of postgraduate legal studies at Liverpool John Moores.
Writing in NLJ this week, Harvey, who is also director of training, risk and compliance at Brabners, says: “The SRA wants a clear, easy to understand, professional code of ethics for all solicitors and an entirely separate code relating to the obligations of the business—systems, co-operation and information requirements, client money and assets, and competent and ethical practice, including conflict and confidentiality.This approach is both radical and commendable.”
The new codes are currently out for consultation and will not be launched before at least November 2017.
