Regulating Legal Practices

Transcription

1 Regulating Legal Practices

2 Regulating Legal Practices CILEx Regulation Benefits Being regulated by CILEx Regulation: is open to all Authorised Persons running their own law firms; enables CILEx members to have their own practices regulated; delivers competence-based authorisation, focusing on how you run your business; demonstrates you can provide a good service to your clients; makes clear to consumers that you provide specialist legal services; and provides dedicated Relationship Officers to assist you in the regulatory process. What Can I Do In My Firm? CILEx Regulation has qualification schemes to allow you to deliver the following reserved and regulated legal services: conduct of litigation rights of audience probate activities conveyancing immigration advice and services All reserved and regulated legal services must be delivered through a regulated legal practice. Who Can Be Authorised? We can authorise practices that are owned and managed by Authorised Persons, whether regulated by us or one of the other approved regulators.

3 How Do I Apply? A Relationship Officer will help you to: complete an application form. We will ask for details of your organisation structure, client base, and practice, accounts and risk management procedures; provide supporting documentation to demonstrate the procedures you have in place; and provide financial and accounts information to demonstrate your financial management. Application forms, fee details and guidance handbooks can be found at What Management Skills Will My Firm Need? You will need to have a number of key people within your practice. They are: an approved manager - a person authorised in each reserved legal practice area in which you seek to provide legal services; and a compliance manager a person authorised to take responsibility for practice and accounts management. Approved managers must demonstrate a general knowledge in practice and accounts management. Compliance managers must demonstrate an in-depth knowledge of practice and accounts management.

4 Regulating Legal Practices Assessing Your Application We will look at the risks your legal practice may pose to meeting the CILEx Code of Conduct. We will consider whether your application meets our authorisation criteria. If it does, we can authorise your practice based on the documentation assessment. If we need further information, we may conduct a visit to your practice. We will look at your files, your processes and procedures and areas of potential risk and non-compliance. The information gathered will enable us to review your application against the authorisation criteria, so that we can be satisfied as to risk and compliance issues. Our Decision Once we have approved the areas of law you practice in, and the managers (approved and compliance) and you have professional indemnity insurance in place, you can start delivering legal services. You may be authorised with conditions on your entity or manager authorisation but your Relationship Officer will work with you to ensure your compliance. If we decide that your application poses risks that cannot be mitigated, we will not authorise your practice.

5 Regulating Legal Practices Ongoing Regulatory Requirements These include: professional indemnity insurance cover through one of CILEx Regulation s approved insurers; complying with the CILEx Code of Conduct and Accounts Rules, including submitting annual accounts reports; making an annual contribution to the compensation fund; and seeking CILEx Regulation approval before making any specified changes to your practice. Monitoring Your Legal Practice All authorised legal practices are subject to monitoring and supervision, with an annual review. You must continue to comply with the CILEx Code of Conduct to protect the public and the administration of justice. Our aim is to always protect the consumer, all of the time.

6 CILEx Founded in 1963 the Chartered Institute of Legal Executives is the professional association for more than 7,500 qualified Chartered Legal Executive lawyers and 12,500 paralegal and other legal practitioners in England and Wales. CILEx Regulation CILEx Regulation sets the standards of conduct and qualification for those it regulates and assesses compliance with these standards. CILEx Regulation takes proportionate and risk-based action in cases of non-compliance. CILEx Regulation is the regulator of Chartered Legal Executives and other members of CILEx. CILEx Regulation also regulates practitioners and legal practices authorised to provide reserved and regulated legal services. For further information about practice rights and entity regulation please contact: CILEx Regulation Limited Kempston Manor, Kempston Bedford MK42 7AB T +44 (0) F +44 (0) E practicerights@cilexregulation.org.uk CILEx Regulation March 2015 Information correct at time of going to press.