Lexis®Library update: The SRA considered more than 1,200 survey responses from in-house lawyers, conducted interviews with in-house solicitors in the public and private sector and met with stakeholders in the in-house sector. The report highlights the role of in-house solicitors in maintaining ethical and regulatory standards within their organisations. It also states that in-house solicitors play a crucial role in helping organisations behave legally, fairly, and ethically.
The SRA found that in-house solicitors face several challenges in fulfilling their professional obligations, including:
• safeguarding independence
• managing risks with policies and controls
• managing pressures and meeting regulatory obligations
• maintaining continuing competence, and
• ethical leadership and ethical risks
The report suggests that in-house solicitors should take steps to identify and manage ethical risks and assess whether they are meeting their regulatory responsibilities. It also recommends that legal teams and employers work together to manage these risks through dedicated policies and tailored shared controls.
The full report can be read here.
This content was first published by LNB News / Lexis®Library, a LexisNexis® company, on 14 March 2023 and is published with permission. Further information can be found at: www.lexisnexis.co.uk.
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