Our consultants provide SRA compliance advice, training and assistance to Officers, Managers, Partners, Directors and Investors of law firms.
Our team of experts includes consultants with detailed insight into SRA compliance issues. They regularly assist solicitors and other authorised legal services firms in understanding and complying with the Solicitors Regulation Authority (SRA) Handbook.
Through working closely with you, our consultants will provide your law firm with regulatory compliant advice, as well as help you implement a detailed regulation and compliance programme, safeguarding your firm and your staff so they are fully aware of the obligations to comply with the various rules required to be followed at a law firm.
They offer ad-hoc support for any compliance issue that arises and can also offer clients an ongoing retainer service. The purpose of the retainer service is to ensure that firms are one step ahead of the game by maintaining a managerial system which meets or exceeds the requirements.
Outsourcing this work means you can rest knowing that you are fully compliant to practice and to concentrate on what you do best, fee earning.
Free Initial Discussion And Quote
For a free initial discussion and for a no-obligation quote, please call us on 0330 133 8783 or email [email protected].
Helping With A Wide Range Of Compliance Questions:
COLP And COFA Compliance Support
As of 1 January 2013, solicitors’ firms and other SRA authorised legal services organisations must have a Compliance Officer for Legal Practice (COLP) as well as a Compliance Officer for Finance and Administration (COFA).
Compliance officers nationwide are feeling the pressure, when sometimes in addition to their fee earning and other day-to-day duties, they have to spend a significant amount of time planning and implementing compliance, managing risks and devising ways of being able to demonstrate this to the regulator. We have two support options available either in-house training or outsourcing.
It makes sense to outsource some compliance duties to our team of consultants who provide an ongoing compliance service, ensuring you keep pace with the demands of the continuously changing regulatory environment to ensure firms are meeting their legal and regulatory obligations such as the SRA Code of Conduct, SRA Accounts Rules, AML and Data Protection.
Our consultants support for firms has included implementing systems and controls to ensure compliance, assessing whether a breach is material and as such reportable to the SRA, regular regulatory updates; as well as ongoing support via telephone and email on any compliance related issues.
Performing the role of a COLP or COFA of a law firm need not be daunting or arduous. Our consultant’s expertise enables you to meet the SRA’s requirements on an ongoing basis, improve quality and efficiency and better manage your exposure to risk.
- We provide COLP and COFA training programmes that are SRA Handbook compliant, easy to operate and cost effective.
- We can help you write and update your risk management plans
- We provide support with management reviews (including file audits)
- We can help you deal with client complaints
Learning & Development
Since November 2016, all law firms have been required to adopt new ways of working for continuing competence. Previously, Solicitors were required to follow the CPD regime to count and record CPD hours. The SRA is no longer accrediting courses for CPD and instead, firms are required to reflect on the quality of their practice; and identify any learning and development needs. Firms are then required to address those needs to ensure the knowledge and skills of Solicitors or lawyers practising within the firm are up to date and they are competent to practice.
As part of the Practising Certificate renewal process, all Solicitors are required to make an annual declaration to the SRA confirming they are competent to practice.
Our consultants can support firms by providing in-house training to all staff to meet any learning and development needs. We can offer a range of courses including:
- Anti Money Laundering Training
- Client Care and Complaints Handling
- The role of the COLP and COFA
- Marketing & Social Media
We can also devise bespoke training courses to address any learning and development needs identified following a file review and compliance audit.
Policies & Procedures
Rule 8 of The SRA Authorisation Rules 2011, requires those firms seeking authorisation or already authorised to have suitable arrangements in place to ensure that everyone within the firm complies with the SRA’s regulatory arrangements to ensure that they have adequate systems and controls in place to meet this requirement.
A comprehensive Office Procedures Manual is the key step towards demonstrating that suitable arrangements and a Compliance Plan is in place.
Our consultants can provide firms with a comprehensive Office Procedures Manual tailored to the size and nature of their firm. The Office Procedures Manual complies with the requirements of the current version of Lexcel. In the event a firm wishes to apply for Lexcel, CQS or SQM in the future they can be confident that they are already meeting the required standard.
We can also assist firms who already have an Office Procedures Manual but require a new or revised policy and procedure. This would take in to account new regulatory changes or changes within the firm.
Law Firm Mergers and Acquisitions
Whether you are considering a full-scale merger with another law firm, or taking over all or part of another firm, there should be detailed forward planning, particularly in relation to risk in order to highlight any problems which will save you time and money in the long run.
Our compliance experts work with the acquiring firm to test regulatory compliance, with particular focus on financial stability together with a wide range of pre-merger duties to ensure that the merged firm has addressed the range of compliance risks posed by the merger and is best placed to operate in a consistent and efficient way.
How To Get In Contact
As specialists in the legal industry, we can assist you wherever you are based. To learn more about how we can help you, then contact us today for a free initial discussion, please call us on 0330 133 8783 or email [email protected].
