The Solicitors Regulation Authority (SRA) yesterday warned solicitors of the danger of the non-compliance trap in tough financial times. SRA Chief Executive Antony Townsend has said: "When market conditions are tough and financial problems begin to bite, individuals who are usually principled and ethical can succumb to pressures and temptations, getting drawn into schemes and poor practices that put their clients, their businesses and their future at risk. The large majority of legal professionals act scrupulously even when the going is tough. In the last week I have seen an example of an individual who, despite having to close a firm in distressing circumstances, has acted with the highest standards in her clients' interests, and co-operated fully with the SRA."
Follow this link for further information: http://www.sra.org.uk/sra/news/press/clt-speech-stay-compliant.page