You have questions about risk and compliance? We have answers
Some practical takeaways from the Law Society’s Risk and Compliance Conference At the Law Society’s Risk and Compliance Annual Conference 2024, attendees asked their most pressing questions to a panel of experts, who provided answers that were practical, insightful and provided risk and compliance teams with information they could use in their firms. The first […]
The Law Society to UK government: Limit SRA fining powers
At its Risk and Compliance Annual Conference, Law Society president expresses concerns The Law Society’s Risk and Compliance Annual Conference 2024, started off with a bang. Nick Emmerson, president of The Law Society, noted that, along with increasing compliance obligations on law firms were increasing fining powers by the Solicitors Regulation Authority (SRA). Emmerson was […]
How to use the SRA’s client and matter risk assessment template
Adapt it correctly and it can help you build a process that works The Solicitors Regulation Authority’s (SRA) recently-released template for client and matter risk assessments is just the beginning of a firm’s assessment journey with its clients and matters. The templates were created to guide firms and help them understand the SRA’s requirements and […]
SRA releases client and matter risk assessment template to combat high levels of non-compliance
Template available in Omnitrack In a session on anticipated increased AML regulations at the Law Society’s recent Anti-Money Laundering and Financial Crime Conference 2023, the Solicitors Regulation Authority’s (SRA) representative made an announcement: The agency would be releasing a client and matter risk assessment template. Anyone attending the conference could hear the sighs of relief […]
SRA updates AML Sectoral Risk Assessment
The Solicitors Regulation Authority says it is keeping up to date with emerging risks and trends An updated anti-money laundering (AML) and terrorist financing (TF) sectoral risk assessment was just published by the Solicitors Regulation Authority (SRA) that covers proliferation financing and sanctions. The regulatory body, which oversees solicitors in England and Wales, also noted […]
The Solicitors Regulation Authority’s sanctions survey is due at the end of May
They want to know how your law firm handles financial sanctions Last month, the Solicitors Regulation Authority (SRA) released a questionnaire compelling law firms to report on their firm’s approach to financial sanctions. The survey is due on May 31. A few of your key questions about this survey are answered here.
Assessing climate change risks and opportunities: A look into professional services firms
Climate change poses serious risks to companies and not just those with asset-heavy supply chains. Even the most flexible, digital professional services companies may be vulnerable. Thus, all companies need to understand the risks posed by climate change – as well as the opportunities. Companies that prioritise climate risk management will be better positioned to […]
The 2023 Compliance Agenda: Download your guide to compliance in 2023
From new ESG regulations to a crackdown on bribery, rapid fluctuations in crypto currency, changes to the regulated sector and the ongoing conflict in Europe demanding a laser-like focus on the supply chain, 2023 looks set to demand even more from compliance professionals. We have created an in-depth guide to everything compliance in 2023. The […]
New SRA guidance on effective supervision
Findings from the SRA’s recent thematic review included the insight that firms need to have stronger evidence that supervision is taking place. Out of 76 files reviewed by the SRA, only 29 of them showed evidence of supervision taking place. Therefore, in their new guidance, the SRA has included a section on effective supervision that […]
New US legislation could require forced labour audits
Modern countries are fighting forced labour and human trafficking with legislation that makes it harder to use forced labour in their supply chains and profit from it. Modern slavery acts in the United Kingdom, United States, and other countries around the world are requiring large companies to disclose information regarding their efforts to eradicate human […]
