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Solicitors' Risk in Brief - August 2019

Published 8 agosto 2019

Regulatory

Indemnity Insurance and the Regulatory Revolution

The SRA Handbook came into force 6 October 2011, introducing a new Code of Conduct that was in part prompted by the advent of alternative business structures, and the desire of the SRA to open up the legal market in the wider public interest. That drive to keep pace with the changing consumption of legal services has, with effect from 25 November 2019, given rise to the new and more streamlined SRA ‘Standards and Regulations’, and the creation of two codes of conduct for firms and solicitors.

Anti-money laundering update

Anyone following the SRA’s social media accounts will know that preventing money laundering is a hot topic for the Regulator. Its #staySHARP campaign, telling firms to they SHould Assess, Report and Protect has been prompted by the fact that as many as four in ten law firms are flouting the anti-money laundering regime.

Other Articles

Dreamvar continued: changes made to the Law Society Code for Completion by Post

As of 1 May 2019, a new Code for Completion by Post has been implemented by the Law Society in light of last year’s decision in Dreamvar (UK) Ltd v Mishcon de Reya and P&P Property Ltd v Owen White & Catlin LLP.

Service of Proceedings: is there a duty to correct your opponent's mistake?

In Woodward & another v Phoenix Healthcare Distribution Ltd the Court of Appeal applied the Supreme Court’s decision in Barton and found that the Defendant had no duty to correct an opponent’s mistake when serving proceedings, despite a short window of opportunity to do so.

Notification of circumstances - clarification from the Court of Appeal Euro Pools Plc v Royal & Sun Alliance Insurance Plc [2019] EWCA Civ 808

The Court of Appeal has examined a notification of circumstances which “might reasonably be expected to produce a Claim” in its recent decision in Euro Pools Plc v Royal & Sun Alliance Insurance Plc.

Date of Knowledge Clarification

UK Insurance Ltd v (1) Carillion Specialist Services Ltd (2) Construction Auditing Services Ltd [2019] EWHC 1588 (TCC)

The above case reiterates the requisite test, pursuant to Haward v Fawcett [2006] 1 WLR 682, in terms of the date of knowledge for the purposes of section 14A of the Limitation Act 1980 (“the Act”). DAC Beachcroft LLP acted for the successful Second Defendant

Authors

Catrin Davies

Newport, Bristol

+ 44 (0)1633 657682

cadavies@dacbeachcroft.com

Phil Murrin

London - Walbrook

+44 (0)20 7894 6900

pmurrin@dacbeachcroft.com

Amy Harris

Bristol

+44 (0) 117 918 2631

aharris@dacbeachcroft.com