Compliance and Regulation Newsletter
The Strategic Partner is a knowledge hub, consultancy, and service provider for law firms, Professional Indemnity Insurers and those who interact with the Legal industry. Our focus is to provide quality services to all clients, enriching their businesses with our knowledge and expertise and becoming an integrated and valuable asset.
In the latest issue of “The Compliance Partner” our compliance and regulation newsletter, we look at some of the most recent events regarding risk, regulation and compliance affecting the legal industry.
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Below are some of the articles featured this month.
Two solicitors have been fined for allowing their firm to take on work in areas where they had no experience and accepting client money when it did not have a client account. This article featured in the Law Society Gazette is a perfect example of the importance of your firm’s compliance when it comes to SRA Regulations, and risk assessment, making sure that staff take on work that is within their remit of skills and not posing a risk to the firm. The Strategic Partner offers training and guidance to law firms to ensure their compliance and to avoid this type of misconduct within their firms by carrying out a firm-wide risk assessment, and providing policies that set out the firms practices to the work it is able to take. Find out more about our Risk Assessment services.
Law firms may be obligated to sign up for review websites. The Legal Services Board, the oversight regulator, will meet to discuss a new paper on quality indicators which suggests that action is needed to ‘catalyse’ change in the legal market To read the full article click here
Any solicitor facilitating the settlement of personal injury claims without a medical examination will be prosecuted for professional misconduct, the Solicitors Regulation Authority said today.
The Civil Liability Act, which came into force last week, introduced a ban on offers to settle road traffic accident whiplash claims without a medical report (known as a pre-med offer). Read the full article from the SRA here
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The Strategic Partner provides essential support to law firms. We offer a range of services and consultancy tailored to the Legal sector including guidance and services for regulation and compliance including AML. We have gained a wealth of knowledge and experience in the overall management of law firms and work with them to achieve profitability, stability, and efficiency. Our goal is to become a valued and respected partner to our member law firms providing high-quality services and solutions at all times.
We would be very happy to discuss your current approach to regulation and compliance and how our services will assist you in ensuring your firm is protected.
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