ILEX PROFESSIONAL STANDARDS LTD BUSINESS PLAN 2014

Transcription

1 ILEX PROFESSIONAL STANDARDS LTD BUSINESS PLAN 2014 The IPS strategy document sets out IPS key aims and objectives. This business plan sets out how IPS will achieve the objectives set out in the strategy. 1

2 OUTCOMES FOCUSED REGULATION Secure Parliamentary Orders for practice rights and entity regulation and Orders for ancillary applications Work with MOJ and LSB to obtain designation order for probate and conveyancing rights July 2014 BB MOJ laid order in Parliament, debates scheduled for September and October 2014 Obtain s69 Order for Compensation Fund and Dec 2014 NM, BB Draft waiting JCSI approval; to be laid in Parliament statutory intervention powers Obtain extension of exemption provisions under Dec 2014 BB Order approved in June Completed Rehabilitation of Offenders Act Obtain order for CILEx to become designated body under LASPO Dec 2014 MN, BB Application made and with MOJ lawyers for analysis. Initial indication from MOJ indicates agreement with Obtain approval of HM Treasury and Order to include CILEx as a supervisory authority for money laundering regulation need for order Dec 2014 MN, BB Waiting Minister approval before Order can be scheduled for debate. Complete preparation work to implement new regulatory arrangements developed under practice rights schemes ; and Implement the arrangements for regulating CILEx members and practices which provide regulated and reserved legal services Carry out work in accordance with practice rights Dec 2014 MN, DP, Work being overseen by PRWG implementation plan JS, SS, BB Develop action plans identifying action IPS will take in response to LETR report and LSB statutory guidance and commence work in accordance with the plans.

3 Develop action plan June 2014 VP, BB, WR Action plan approved July 2014 Carry out activity in accordance with action plan Dec 2014 VP, BB, WR Action plan identifies key activity. LETR WG will to meet LETR and LSB requirements oversee activity in accordance with the plan. Currently drafting day one outcomes for Fellows. Carry out joint working with regulators on development of competence frameworks, where possible Participate in SRA and BSB led discussions on development of common competence frameworks Dec 2014 WR Participating at focus group meetings to contribute to framework development Evaluate the viability of becoming a licensing authority and thus develop licensing application during 2014 with a view to consultation and submission in 2015 Dec 2015 Project plan developed for licensing application. Carry out work in accordance with project plan BB, MN, DP Work on parliamentary timelines on practice rights has delayed progress Discuss with relevant bodies, the provision of regulatory services and practice rights for potential new CILEx members July 2014 BB, comms team Project plan publicity and discussion programme for new practice rights schemes Plan prepared by communications team and discussed at PRWG. Regular review meetings taking place to review activity by comms team in accordance with plan

4 Guide CILEx on regulatory issues affecting education, training and accreditation arrangements. On going IPS team Information sharing takes place as required, IPS precedents logs developed to facilitate that process Review outcome of regulatory issues (case law, ethics, IPS matters) and provide advice to CILEx on their impact Oversee impact of apprenticeship development, ensuring education standards are met On going WR IPS attending CILEx working group leading on developments to identify matters relevant to IPS and maintenance of standards Develop a Marketing Strategy for implementation in 2014, based on an analysis of developments in the consumer and legal market, so as to focus developments using Oxera segmentation during Analyse legal services and consumer market developments Ongoing SC Ongoing research commenced as part of consumer empowerment activities. Research being recorded in a database Develop marketing plan Jun 2014 Marcomms Meeting with marcomms team to identify marketing team Implement marketing strategy Sept 2014 Marcomms team Increase the profile of IPS as a risk based regulator. needs Take action in accordance with marketing plan Marketing strategy to include activity to increase Jun 2014 Marcomms Current action includes press releases. Developed IPS profile team draft strategy. Work also commenced to review and

5 Continue to work with stakeholders to develop enhanced models of regulation within the legal sector. update IPS website to incorporate company name change and practice rights functionality Ongoing Identify opportunities to work with approved regulators, consumer bodies and insurance providers SC, MN, BB Set up insurers meeting group under QIA; Regulators Forum set up and IPS leading its operation; liaison and information sharing meetings also taken place with other regulators as required, including after each Regulators Forum. Work with stakeholders Ongoing IPS team Ensure activities focus on developing enhanced models of regulation Keep operation of the Code and our other regulatory documents under review. Ongoing SS, WR, JS, MN, DP Carry out quarterly reviews of regulatory arrangements Regularly mapping our work back to regulatory objectives. Reviews take place on effectiveness of arrangements in context of complaints handling. Extending to new areas of IPS regulatory activities. Included review of WBL and CPD scheme operations. Map proposals and activity to regulatory objectives and better regulation principles Ongoing IPS team Applications for rule changes and regulatory action refers to how activity supports regulatory objectives and better regulation principles

6 SUPERVISION Implement full CPD scheme in 2014 Conclude implementation of professionalism CPD June 2014 JS, DI, YH Membership engagement events, podcast and regular communication taking place with members, also developed CPD resources page Implement IT system for new scheme Aug 2014 JS, DI, YH System developed and in place. completed Implement full CPD scheme for Fellows and APs Dec 2014 JS, DI, YH Scheme go live in Oct 2014, publicity and promotion commenced in April 2014 Review CPD requirements for Associate members Develop project plan for Associate members CPD Nov 2014 WR Project plan to be developed for work to take place in review 2015 Implement intelligence gathering processes for entity regulation and share intelligence with legal services sector Develop, test and build upon intelligence gathering processes On going DP, SN Intelligence reports being compiled and monthly assessment of risks carried out Produce intelligence reports for review by Strategic Risk Committee Dec 2014 DP SRC being set up, will begin receiving intelligence reports once operational, draft of outcomes on PRWG agenda Share intelligence in legal services sector Dec 2014 DP, MN Sharing of intelligence being discussed at Regulators

7 Forum and directly with SRA Implement the annual return process for entities Implement annual return process for entities 2016 DP Process and forms developed ready for implementation. First returns will be in 2016 Use information on risks from the sector and from insurers to target the supervisory process. Implement information sharing arrangements and carry out supervision activity in response to information received 2015 onwards DP, MN Processes developed, ready for implementation in 2015 at entity go live

8 ENFORCEMENT Continue to monitor key performance indicators to ensure that the processes are effective and timely. Quarterly KPI monitoring and report to next Ongoing SS Regular monitoring and reporting takes place available Board meeting Review KPI to capture performance indicators for new regulatory regime from practice rights May 2014 BB Agreed with Board and implemented Completed Keep abreast of case law in this area, revising policies and procedures to be compliant. Develop programme to gather case law and Ongoing SS SS regularly reviews sources to identify case law review impact on policies and procedures relevant to work Develop interventions/practice management arrangements to meet the new regulatory remit. Develop practice management procedure and July 2014 MN, SS Draft produced and considered at PRWG policy

9 UNDERSTANDING CONSUMERS AND STAKEHOLDERS Work closer with the Legal Services Consumer Panel and LeO, learning from their research, plans and/or processes, to provide additional support and information for CILEx members and entities. Identify opportunities to work with LeO and supporting action plans On-going SS, SC Current data sharing and MOU reviews in place. Regular meetings take place to share information Identify opportunities to work with Consumer Panel On-going SC Consumer engagement action plan includes Panel engagement activities; meet with Panel and work with Develop programme for reviewing research and feeding outcomes to IPS teams for dissemination and analysis of risks Implement consumer engagement plan. them as required and through Regulators Forum On-going SC, SN Consumer and intelligence officers regularly review information, input into database and share information with teams Take action in accordance with consumer Dec 2014 SC, SN Completing activities in accordance with action plan engagement action plan for 2014 Continue to consult with consumers and other stakeholders in order to inform policy development. Consultations to take place as IPS policy Ongoing IPS teams Consultees list maintained by IPS. developments take place

10 Continue to make a full contribution to the Joint Advocacy Group, meeting the objectives set by the LSB. Participate in Joint Advocacy Group (JAG) On-going WR Meetings attended on regular basis meetings Implement quality assurance scheme On-going JS Waiting outcome of judicial review claim Continue to develop arrangements for working together with other legal service regulators Identify areas for working with other regulators Ongoing IW, BB, Board Regulators forum being used as first means for working together; also meet with regulators on a needs basis to discuss options for sharing information Develop proposals to explore working together Ongoing IW, BB Separate plans required once areas for working together identified Implement client protection proposals. Obtain order under s69 Legal Services Act to set up compensation fund Dec 2014 MN Order waiting JCSI approval and then to be debated in Parliament Implement compensation forms, procedures and processes Dec 2014 MN Documents ready and waiting implementation, accounts processes to be implemented once order in place Recruit and train fund trustees Dec 2014 MN Recruitment forms developed and ready for commencement once LSB approval and Lord Chancellor approval obtained Work with brokers to source insurance providers Dec 2014 MN Brokers securing providers

11 Sign qualifying insurers agreements with providers Dec 2014 MN Agreements ready to be signed once brokers discussions completed with all providers Develop consumer reference website Maintain Legal Choices website On-going SC Working with SRA and other regulators to maintain site; attending editorial meetings Specialist lawyers website development programme completed Dec 2014 SC work commenced on fitting specialist lawyers additional functionality through existing means with consumer facing element

12 CAPACITY AND CAPABILITY Ensure that all the relevant authorisation, supervision, compliance, enforcement and client protection bodies are in place as necessary. Recruit panellists for complaints and disciplinary Oct 2014 BB, SF Completed by July 2014 panels, trustees for Compensation Fund, strategic risk committee members Train existing and new members on new or extended remit Dec 2014 DP, JS, MN, SS Training dates scheduled for October 2014, training plan being developed Succession plans in place for the Chairman and Chief Executive. Succession plan implemented May 2014 IW, Chair Plan produced for practice rights application Carry out chair recruitment Mar 2015 IW, Board Recruitment committee managing process, job role specification developed Further develop financial planning and models for the future. On-going BB, DP, MN Keep financial plans for entity regulation under review Practice and regulatory fee work includes different risk factors and impact on fees Rolling 3 year budgets in place for 2013/15. Develop rolling 3 year budgets proposal May 2014 IW Working with accounts to produce proposals Develop 3 year budget for July 2014 IW Initial signposting taken place for 2015 budget

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