Ethics and Professional Conduct Flashcards
6 cards from real SQE practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Ethics and Professional Conduct flashcards as text
Under the SRA Accounts Rules, what is the key principle governing the handling of client money?
Answer: Client money must be kept separate from the firm's own money in a designated client account
The SRA Accounts Rules require that client money is promptly placed in a separate client account and never mixed with office money, to protect clients.
What is a solicitor's duty of 'candour' to the court?
Answer: A duty not to deceive or mislead the court, even if this conflicts with the client's interests
Candour requires that solicitors do not make false or misleading statements to the court, and must correct any accidental misleading statement — this duty overrides client interests.
Under what circumstances may a solicitor act for both buyer and seller in a conveyancing transaction?
Answer: Only in limited circumstances, such as where the parties are established clients and the transaction is not at arm's length
The SRA Code permits acting for both parties in limited situations (e.g., related parties, same lender, standard form contract) but not where there is a conflict or risk of one.
What is the purpose of the SRA's 'Transparency Rules'?
Answer: To require law firms to publish price and service information so clients can make informed choices
The SRA Transparency Rules require firms to publish information about their prices, service, and regulatory status to help consumers compare and choose legal services.
What is 'tipping off' in the context of money laundering regulations?
Answer: Alerting a suspect that they are under investigation for money laundering, which is a criminal offence
Under the Proceeds of Crime Act 2002, tipping off (alerting a person under investigation that a Suspicious Activity Report has been made) is itself a criminal offence.
Under the SRA Code of Conduct for Solicitors, what must a solicitor do if they identify that a client's instructions would require them to act dishonestly?
Answer: Refuse those instructions and, if necessary, cease to act
A solicitor cannot act dishonestly in any circumstances; if client instructions require dishonesty, those instructions must be refused and the solicitor must cease acting if the client insists.