The Law Society of Scotland continues to seek members’ views on proposals that solicitors will be required to report suspicions of dishonest behaviour within the profession.
Following recommendations in KPMG’s report on the Guarantee Fund (now known as the Client Protection Fund), the Law Society is consulting on plans to introduce two new proposed practice rules.
KPMG recommended that there should be a formal requirement on Scottish solicitors to raise any concerns they might have about potential dishonesty by a solicitor, with the Law Society.
Philip Yelland, Executive Director of Regulation at the Society said, “The results of a previous consultation indicated members’ support for a reporting policy for financial irregularities and/or mis-management.
“We take our regulatory role very seriously and with just a week left to respond, I would strongly encourage members of the profession to share their views and engage with this policy to ensure that members of the public can continue to have high levels of trust. Research tells us that 83% of people asked, considered their solicitor to be a ‘trusted advisor’. That’s something worth protecting.”
If approved the proposal is that the rules would be added in to the Standards of Conduct at B1 and the Law Society invite members to comment on the proposal by Friday 10 November.
Responses will be considered and members and stakeholders advised of the outcome. Any final draft rules will be submitted to a general meeting of the Society – but not before the next annual general meeting in 2018.
Further details about the consultation and how to respond are available on our website.