The 25 new mandatory guidelines, which came into force on 1 July with immediate effect, were drawn up by the professional ethics division of the Solicitors Regulation Authority (SRA). They replace the 47-year old Guide to the Professional Conduct of Solicitors.
The publication of the new rulebook, which is intended for solicitors and law firm managers across
A key element of the revamped code is rule number one, which covers core duties such as justice and the rule of law, integrity, independence, the best interests of clients, standards of service and public confidence.
Rule number five contains one of the most eye-catching changes, with new stipulations that solicitors who set up or run law firms will have to be qualified as supervisors. Under the previous guidelines, a lawyer was able to oversee a practice with as little as three years’ post-qualification experience.
Existing rules covering accounting procedures, indemnity insurance and financial services remain unchanged.
Law firms have been issued with a deadline of 1 October to ensure they alter their letter-headed stationery to include the phrase “regulated by the SRA”.
As part of the overhaul, lawyers will also be encouraged to access the latest version of the code online.