Changes to the SRA’s Code of Conduct
The SRA will be changing the Code of Conduct on 25 November 2019. That will be the fourth time the SRA has changed the Code in 12 years. COLPs may well feel aggrieved that the changes lead to unnecessary cost as firms try to change their practices to ensure compliance with ever changing rules.
On the face of it, there are some dramatic changes:
- At present there is one Code for individuals and firms. Under the new rules, there will be two separate Codes for individuals and firms.
- The Outcomes of the 2011 Code have been abandoned.
- Indicative behaviours have disappeared completely. New rules, which are now called “Standards”, take their place.
There are in fact a number of changes to the Codes which COLPs need to take into account to ensure that their firms do not inadvertently breach the new Codes.
This article identifies the new standard which sets out the COLP’s duties and then summarises eight of the main changes to the extent of the COLP’s duties.