Legal Services Regulation - Entity Regulation & Culture Explained

Introduction

Since the introduction of the SRA Standards and Regulations in November 2019 and the launch of the SRA revised Enforcement Strategy earlier that same year, there has been a significant shift in the SRA’s regulatory focus and what it considers to be the key areas where enforcement action might be taken. The SRA has made clear that it may take steps where it has concerns about negative outcomes which are linked to ‘bad’ workplace culture within law firms.

Whilst the SRA does not currently regulate law firm culture and has previously focused its attention on breaches of the Code of Conduct by individuals, the revised Codes have somewhat paved the way for the SRA to do this.

With increased regulatory focus in this area, law firms must prioritise promoting a good workplace culture, adopting a proactive approach rather than seeking to put things right only when they have already gone awry.

Leaving aside potential SRA action, ‘poor culture’ is often at the root cause of behaviours that raise reputational risks for a law firm and inhibit business growth.

This webinar will ensure that you are alive to the cultural issues that may exist so that you can start thinking about the steps you could take to implement change, where necessary.

What You Will Learn

This webinar will cover the following:

• The relevant regulatory obligations and why compliance is so important - both from a regulatory and reputational perspective
• Key factors relevant to a ‘good’ workplace culture, including the importance of EDI and wellbeing in creating a safe and supportive workplace
• The common issues in the legal service sector which are attributable to ‘poor’ workplace culture
• Practical steps firms can take to proactively manage and identify issues associated with ‘poor culture’ while minimising the risk of these becoming prevalent in their firms

This webinar was recorded on 12th October 2021