Consequential and conforming changes have been made to Sections 100, 140, 150, 210, and 270 of the Code. Any person accessing this site agrees to the Terms of Use and Privacy Policy. Important Note: Please read our website Terms code of ethics for professional accountants pdf Use. What is a COLP and COFA?

The deadline for submission of responses to this consultation was 12 February 2015. A on the changes approved by our Board on 3 June. You can download the consultation paper and annexes. The information that appears below is for reference purposes only. This is an overview of the proposals. Chapter 12 of the SRA Code of Conduct 2011.

1 These links are that the SRA authorised person owns, is owned by, is connected to, or actively participates in, the separate business. A separate business is not regulated by the SRA. Under the current separate business rule in Chapter 12, SRA authorised persons are forbidden from having the defined links to certain separate businesses. Ensure that members of the public are not confused or misled into believing that a separate business is regulated by the SRA or another approved regulator when it is not. Prevent an SRA authorised person from splitting part of a case with the separate business in such a way that the client loses statutory protection. However we do not consider that these principles require us to keep the SBR in its current form. We are proposing to remove the prohibitions on links with separate businesses that carry on non-reserved legal activities and instead focus the rule on outcomes that achieve consumer protection.

It will help level the playing field between traditional solicitors, ABSs and unregulated service providers. It will formalise what is being implemented by waivers in a significant number of cases. It will align the SRA to a greater extent with the approach taken by other legal services regulators and will address concerns about the SRA’s restrictions on business ownership. It will mean SRA regulation recognises and keeps pace with changes in the market.

News Reporter