- Throughout 2020 and largely in response to the coronavirus pandemic, the Regulatory Compliance Unit received various enquiries from practitioners seeking guidance about their professional obligations under the Uniform Law.
- The previous article in this series answered questions about starting a position at a new firm and starting your own practice (October LSJ).
- This month, we answer your questions in relation to conducting an additional business and communicating with clients via video calls.
- If you have an enquiry, you can contact the Regulatory Compliance Team on 02 9926 0115 or at: [email protected]
Q. I recently commenced a law practice as a sole practitioner, but I also have many years of experience working as a business consultant and advisor. Are there any prohibitions on my operating a second business as a business consultant? What factors do I need to consider to ensure I am compliant with my professional obligations?
A. Great question and one that is very topical in the age of the coronavirus. Since March, the Regulatory Compliance Unit has fielded many calls from practitioners who want to continue to operate their law practice but who also want to use existing skills to operate another business separate to their law practice. Before embarking on another business, especially if you have only recently commenced as a sole practitioner, you will need to consider whether you have the necessary capacity to run two businesses concurrently.