Costs Lawyers Funding Rule 2.03

Published July 7, 2011 by

Costs Lawyers Funding Rule 2.03

We are Costs Lawyers with offices in Cheshire and London

Once more the beast that is Costs Lawyers Funding Rule 2.03 may well start to rear its ugly head. In an ever more litigious world (even though there are signs of a reduction in court actions) the relationship between solicitor and client must be watertight. It is so simple to dismiss any alternative form of funding as “something we don’t do” or “we only offer private client” but sadly that cannot be right and not to discuss any and all forms of funding is wrong and not within the interpretation of Rule 2.03.

Even more so there is an alarming increase in solicitors running risks on their own balance sheets hoping that at the end of the case the paying party will just pay what is asked. If that were true then there would be no need for Costs Lawyers. http://www.associationofcostslawyers.co.uk/

Instead when running the risk yourselves via a CFA or any alternative form of funding think purely of what a hedge bet actually is and hedge your own risks or in fact those of your clients via ATE. Costs Lawyers Funding Rule 2.03

And 2.05

Rule 2.05 of the Code of Conduct was amended on 6 October 2010 by the Solicitors’ Code of Conduct (Complaints) Amendment Rule 2010 to reflect responsibility for complaints handling passing from the Legal Complaints Service to the Legal Ombudsman on 6 October 2010 and the requirements of the Legal Services Board in relation to the information to be given to clients about their right to complain. View rule 2.05 with 6 October 2010 changes highlighted

Rule 2.05 of the Code of Conduct was amended on 1 March 2010 by the Solicitors’ Code of Conduct (Client Relations) LSA Amendment [(no.2)] Rules [2009] and replaced rule 2.08. Guidance note 49B was also added on 1 March 2010. View rule 2 with 1 March 2010 changes highlighted

Rule 2 of the Code of Conduct was amended on 11 August 2009. “Emergency rule” 2.08 was inserted. At the same time, guidance note 48 was amended, and guidance note 49A was inserted. View rule 2 with 11 August 2009 changes highlighted

Rule 2 of the Code of Conduct was amended on 31 March 2009 as part of a general updating of the rules to introduce firm-based regulation and legal disciplinary practices as provided for in the Legal Services Act 2007. View rule 2 with 31 March 2009 changes highlighted