This practice note is the Law Society’s view of good practice in this area.
Practice notes are issued by the Law Society for the use and benefit of its members. They represent the Law Society’s view of good practice in a particular area. They are not intended to be the only standard of good practice that solicitors can follow. You are not required to follow them, but doing so will make it easier to account to oversight bodies for your actions.
Practice notes are not legal advice, nor do they necessarily provide a defence to complaints of misconduct or of inadequate professional service. While care has been taken to ensure that they are accurate, up to date and useful, the Law Society will not accept any legal liability in relation to them.
For queries or comments on this practice note contact the Law Society's Practice Advice Service.
SRA Standards and Regulations
On 25 November 2019, the SRA will introduce the SRA Standards and Regulations 2019. These will replace the SRA Handbook 2011 which will remain in force until then.
References in this practice note are to the SRA Standards and Regulations 2019 as the rules relating to solicitors working for unregulated entities come into force alongside the SRA Standards and Regulations 2019.
Solicitors can access the forthcoming SRA Standards and Regulations 2019 materials and guidance on the SRA's beta website. These materials are regularly being updated so you should check them frequently.
We are developing our own materials to support members with this new regime and our guidance is likely to evolve.
The SRA has also issued non-mandatory ethics guidance for solicitors working in unregulated entities.