These documents are suitable for use as brief guidance for those undertaking compliance roles within your firm and who are responsible for dealing with the subject matter of the documents. You may also wish to circulate the documents to your compliance team/relevant persons to provide a useful overview on the topic.
What is in the documents
Use of Precedents Policy: This document contains a template Use of Precedents Policy.
Guide to Use of Precedents: This document provides guidance on the use of precedents, including why only using precedents that have been approved for use by the Firm is important, suggested steps to take to implement this requirement at your Firm, suggested content for a Use of Precedent Policy and the purpose and benefits of having this Policy in place.
Use of Precedents Checklist: This document contains a summary checklist of the actions that we recommend firms take in relation to the use of precedents at their Firm.
How to use the documents.
Use of Precedents Policy: This template policy can be used to assist you in drafting your Firm's Use of Precedents Policy and should be read together with the Guide to Use of Precedents. You should ensure that the Policy is amended so that it is suitable for use by your Firm. Where the draft Policy contains square brackets, these should be completed as appropriate for your Firm following consideration of the Guide.
Guide to Use of Precedents: This Guide can be used to provide you with useful information on the use of precedents and can also be used to assist you to draft a suitable Policy. It details the information that we recommend you insert in your Policy.
Use of Precedents Checklist: This checklist details the action that we recommend Firms take in order to deal with using precedents at their Firm and can be used to assist Firms to check that they have appropriate processes in place.
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