- Intermediate * 6 hours CPD
Regulatory matters are becoming increasingly relevant to legal practices as the Legal Services Act is implemented. The fundamental basis of Rule 5 of the new Code of Conduct is that "firms will be expected to produce evidence of a systematic and effective approach to management". Effective supervision lies at the heart of these requirements. The guidance to the Rule states that, broadly, the rule aims to set out:
- Responsibility for the overall supervision and management framework of your firm of in-house practice
- The minimum requirements to be met in order to be "qualified to supervise"
- The minimum standards applying to supervision of clients’ matters
- The minimum requirements in relation to those business arrangements considered to be essential to good practice and integral to compliance with supervision and other duties to clients
Failure to supervise can cause enormous inconvenience and upset for clients, as well as practices facing disciplinary action. This course will enable firms to adopt best practice approaches to the delivery of legal services and will review:
- What are the roles of supervisors within a legal practice?
- What part do regulatory requirements play in the need for effective supervision?
- How can effective supervision assist the achievement of business objectives?
- How does effective supervision assist the management of risk?
- What processes need to be introduced to ensure that supervisors’ roles are effective?
- What competences are required to ensure that supervisors undertake an effective role?