An EEP is an ‘Exempt European Practice’. The SRA Glossary defines this body ‘to be any type of structure in which lawyers are permitted to practise in their home Establishment Directive state and which is regulated as a lawyer’s practice in that state and has its main place of business in an Establishment Directive State other than the UK. No practising lawyers of England and Wales may be beneficial owners of the business, and it cannot carry out any reserved work.’
http://www.sra.org.uk/solicitors/handbook/glossary/#definition_E
EEP’s do not need to pay fees based on turnover, they are not required to have COLP and COFA’s, and many of the SRA rules do not apply to them.
To operate within England and Wales, all individual lawyers working within an EEP are still subject to the SRA Code of Conduct 2011, but without being subject to the SRA regulations.
