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You can view and download this newsletter here. AML, Quality Assurance, Continuing Competence - Key Focus from SRA David Green The SRA published the finalised 2021 -2022 business plan and has been releasing various announcements that highlight its [...]
The SRA has published a consultation paper in which it proposes increasing its fining threshold to £25,000. The regulator believes that doing so, will allow it to deal with a broader range of disciplinary matters without having to refer them to [...]
Regardless of the size of the law firm, the same rules apply to all, although proportionality does play a part. As compliance continues to challenge firms due to the complexity and the continued focus of the regulator, with stringent [...]
During the course of the month, we have published a number of articles in which we discuss regulatory issues directly relevant to law firms and industry professionals. In this month’s Compliance Partner newsletter, we review industry related news along [...]
The Law Society have reinforced the need to move away from ‘box ticking’ risk assessments and to truly understand the clients and matters a firm is dealing with through a full risk assessment. Firms must go one stage further [...]
Is lack of training for your COLP, COFA or MLCO and MLRO harming your firm? It is not enough to put AML procedures in place, it is much more about fully understanding the responsibilities and putting them into practice. The [...]
Despite the fact that workers are being encouraged to get back to the office, the lockdowns of 2020/21 have dramatically changed the culture of working. For law firms, staff may have discovered that they can complete tasks from the [...]
With the SRA coming under fire from the Westminster and Holborn Law Society for allegedly hauling young solicitors before the Solicitors Disciplinary Tribunal in disproportionate numbers for small mistakes, it should serve as a reminder for firms to ensure they [...]
When the SRA virtually visited firms to check on their money laundering systems, over 10% of firms were not compliant and referred for investigation. Would yours pass? The SRA has several ways of engaging with firms to check that [...]
The Problem It is well reported that fraud is increasing as the world continues to move online to undertake transactions. This is a concern for law firms and their insurers as they continue to deal with and handle matters tainted [...]
