FOR IMMEDIATE RELEASE
Press Release Submitted By datalawonline.co.uk
Liverpool, UK (July 2013) – Solicitors have been told that the service
they provide to vulnerable clients is one of the SRA’s emerging risks
for the coming year. (Free-Pr-Online.com)
The Solicitors Regulation Authority (SRA) has published its first
annual Risk Outlook1, giving those working in the legal profession an
idea of what they should be watching out for over the coming months,
in order to avoid falling foul of enforcement action.
Risks are categorised as current, emerging or potential, helping
solicitors to know which are the most immediate threats to their
operations.
Among the first emerging risks to be identified is the issue of the
quality of service given to vulnerable clients, which solicitors have
been warned to watch out for.
Potential future risks include a lack of transparency, a lack of due
diligence when outsourcing, and abusive or improper litigation, all of
which the SRA suggests solicitors should try to avoid.
Meanwhile, in the current economic climate, it is perhaps of little
surprise that a major current risk is that of financial instability -
something the SRA is working with at-risk firms to keep under
control.
Training for risk
Managing emerging risks is one area that can be tackled using CPD
training, which remains an important element in the continuing
professional development of even experienced solicitors.
Training sessions can look at risk management directly, or might focus
on specific aspects of the job, with a better understanding of those
aspects also helping to reduce your exposure to emerging threats.
The SRA’s Risk Outlook is one way to help you to identify the areas in
which it might be best to consider undertaking some additional
training.
However, if there are any other issues that are a cause for concern
based on your unique individual experiences, it is perhaps wise to
prioritise these in any training you undertake, as they are more
likely to be pressing current concerns, as opposed to potential future
risks that have not yet emerged.
1Risk Outlook maps out key risks, SRA, July 2013
Contact:
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Email: lesleyowens@datalaw.org
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