SRA Code of Conduct 2019 and Ethical Dilemmas Faced by Corporate Solicitors

SOLICITOR
CORPORATE
PRACTICE

Table of Contents
INTRODUCTION...........................................................................................................................2
MAIN BODY...................................................................................................................................2
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Corporate practices are broadly referred to as the presentation of various companies with
respect to the corporate compliance, governance, mergers and acquisitions. However, there are
various number of corporate solicitors who prefers only to represents either private companies or
public companies. It is very much required for every solicitor to act in an ethical way as it helps
in responding to moral dilemmas which he tends to face at his work. Further, Solicitor
Regulation Authority, which is SRA provides certain regulation and standards which are applied
to all sort of solicitors irrespective of his area of practice1. This essay is going to cover the brief
explanation of SRA code of conduct 2019 mainly with respect to corporate solicitors.
MAIN BODY
Explain and discuss in relation to the SRA Code of Conduct for Solicitors 2019 and the
ethical dilemmas faced by corporate solicitors. In particular consider to what degree do
solicitors owe a duty to the public generally.
The regulations and standards by Solicitors regulation authority(SRA) while replacing the
older references came into existence on 25th November of 2019. the new changes were made to
grant some flexibility to corporate solicitors. The major changes were made with respect to the
introduction of two altogether new codes of conduct, one being each for firms and individual
solicitors. Also major changes were made to both disciplinary rules and accounts rule while
shortening them. The earlier set of principles which was applicable to both the individuals and
firms was now has been reduced to seven from earlier being ten in number2. The four principles
which have been removed are of continuance of business in compliance with governance,
responsibility of protection towards money of client, complete standard of services to be
provided to client, etc. while seeing in real sense the earlier stated principles have not been
1 Corporate Governance Report: Corporate Governance In Large British And German Companies:
Comparative Institutional Advantage Or Competing For Best Practice?' (2018) 7 Corporate Governance
2 Corporate Style For General Practice Staff' (2020) 30 Practice Management