Obligation – a requirement to take a particular type of action, that may have a legal basis through a contract.

Omission – a failure to perform a particular act where there was a duty or a legal requirement for that act to be carried out.

Ordinary power of attorney – a legal way of giving someone else the power to manage your financial affairs when it is difficult for you to manage them yourself, perhaps because of a physical disability. Nobody can “take” a power of attorney it has to be “donated” willingly. The donor decides who to appoint as their “attorney”, which will be someone they trust, such as a close relative, friend, or solicitor, and can cancel the arrangement at any time.

Out-of-court settlement – an agreement between the two sides to settle the case privately before the court makes its decision.

Outcome(s) – this often means the final decision following an application or an investigation.

Outcomes-focused regulation (OFR) – this is the SRA”s approach to regulation. It allows firms to adopt their own approach, systems and management to best enable them to deliver a good service to client”s needs and to support their business.