Full Description
Every year firms close for a variety of reasons, including sale or merger, but what happens if you haven't prepared to exit the market? The Solicitors Regulation Authority (SRA) has stressed the need for firms to have an exit strategy in place to prepare for this eventuality, meet regulatory requirements and good practice standards, and avoid potential fines.
The Exit Strategies Toolkit contains a mixture of commentary, procedural checklists, such as a notification checklist, draft policies and precedents, including sample letters to PI insurers and the SRA, to help you to prepare for this eventuality.
Contents
1. Types of exit; 2. SRA regulatory issues if you are closing your firm; 3. SRA Accounts Rules; 4. Documents and records; 5. Specific considerations for different types of practices; 6. Insolvency; 7. Notifying relevant parties; 8. Moving to another regulator or ceasing to be a regulated practice; 9. Professional indemnity insurance: regulatory requirements; 10. Life after an exit event: options and regulatory considerations; Appendices.
