The new Law Society rules on conflicts of interest have become law by way of statutory instrument. This represents the end of a somewhat lengthy journey for the Law Society.
Until now, the professional rules a solicitor was obliged to follow (apart from specific rules on property transactions) were encapsulated in the general precepts of Principle 1 (independence, integrity, best interests of the client, duty to the court) together with some dodgy guidance in the much-criticised Sections 15 and 16 of the Guide to the Professional Conduct of Solicitors, which was confused, internally inconsistent and inconsistent with the common law. These guidance sections have thankfully been repealed.
