Compliance Training

Law Society Risk and Compliance Conference 2022 Teal Compliance Key Takeaways

Risk and Compliance March 2025 Key Takeaways

Eilish Cullen, Teal Compliance’s Head of the Partnerships and our Data Protection Subject Matter Expert attended the Law Society Risk and Compliance Conference on 12 March 2025, here are her takeaways.

As ever, the sector is shifting big time, and we all need to be ready for it – whether managing complex and evolving regulations, ensuring data security, adapting to the rise of AI, and navigating economic pressures, all while building a positive culture and driving new business.

So this is something we all need to keep a close eye on, especially for COLPs and MLROs as the challenges we in AML and risk management are facing is going to dramatically ramp up with more and more complexities to navigate.

Here are Amy Bell’s Handy Hints for those new to the role of COLP & MLRO – READ HERE

The agenda for the rest of the day looked like this, and each delegate was offered 2 out of the 4 workshops:

  • TED talk: Is the legal profession fit for the 21st century?
  • SRA: Regulatory priorities in a changing legal landscape 
  • Plenary 1: AI on trial This session delves into the risks and opportunities of AI in legal practice. 
  • Workshop A1:  Cybersecurity for small and medium-sized firms (run under Chatham House Rule)
  • Workshop A2: Social conflict and reputational risk 
  • Plenary 2: Economic crime concerns 
  • Workshop B1: Handling client money Post Axiom Ince the SRA proposes 
  • Workshop B2: Risk management 101 Essential risk management strategies and best practices for process mapping and policy development. 
  • Plenary 3: Code of conduct and culture What is your role as a compliance officer in shaping conduct and culture? 
  • Reputational risk in law: Defending your reputation Join Jacqueline McKenzie, human rights and immigration lawyer, for an insightful keynote on managing reputational risk. 

Is the Legal Profession Fit For the 21st Century?

Kirin Kalsi, General Counsel, Compliance Officer and Data Protection Officer at E.ON UK, gave us a Ted Talk on the subject.

With the focus on law firms and their lawyers being focused on the billable hour and money, the potential for risk is high, to the client, to the reputation of the law firm, and of course to the law firm employees.

Kirin went on to talk about how the training of juniors/trainees hasn’t really changed in 20 years. The same methods are being used, but how do we come together as a legal sector to change that approach for training our new generation. 

From training new generations coming into the profession and how the culture of the sector as a whole, as well as firmwide, is key to long term growth. New entrants to the profession say work/life balance is really important, their outlook on what’s important is different and Kirin said that potentially the profession is still way behind on this. 

As attendees, we were asked is it within our power to change this? A conversation that I am taking back to the team at Teal and asking ourselves how we can support change.

As the Post Office Scandal, ‘Biggest Miscarriage of Justice’, is still very much in our front of minds, seeing Lee Castleton speak at various events, and knowing that 900 Post Masters were prosecuted, Kirin asked what can we learn from it in our risk and compliance efforts, both as consumers of law and of practitioners.

 

On a side note away from Kirin’s talk, the SRA confirmed it has more than 20 live investigations into solicitors and law firms who were working on behalf of the Post Office/Royal Mail Group. In a statement it says “We will take action where we find evidence that solicitors have fallen short of the standards the public expects”.

 

If you haven’t already read this, I urge you to:  Post Office Horizon Inquiry – human stories

 

The need to ‘speak up’ and remind ourselves of our professional obligations. Attendees were asked if we have carried out our own firm’s internal training/briefings when it came to ensuring there will never be another Post Office Scandal (in terms of aggressive litigation, dehumanisation, bullying). 

If you haven’t, then it’s time to have the conversation as to why we and/or our bosses feel it’s irrelevant?

It didn’t take long for the talk to turn to the use of AI and technology. As a profession we need to be forward thinking and proactive, especially when it increases efficiency and time. For example, our Teal Tracker, is built for efficiency and risk management. It’s accessible and easy to use. Amy Bell wrote this software and had it built specifically for the holes that appear in a firm’s AML compliance, data protection and regulatory processes. 

TEAL TRACKER – you can read more about our software by clicking on the link HERE.

The takeaways on the subject of AI from Kirin’s Ted Talk for me were that in 2025, lawyers and colleagues in firms are more efficient and self-sufficient, arguably due to the software firms currently have in place. 

As with technology and change, with AI there is an element of firms being both delighted at what AI can assist with in tandem with fear that it will replace their jobs.

There is still a concern regarding the reliability of AI (still in experimental phase) but the stark reality is that it is improving every day. We can’t afford to be dinosaurs.

When it comes to law firm risk and compliance, human risk has always been present (ask any insurer!), and therefore accuracy and reliability has always been a concern even without the use of AI.

All of us in the legal sector need to consider human risk -v- risk of AI getting it wrong.

Concern regarding whether a firm’s insurance covers the risk surrounding using AI – a reminder to firms to have that open conversation with their PII provider.

Aileen Armstrong, Executive Director, Strategy Innovation and External Affairs at the SRA, focused on their priorities when it came to client money, high volume claims, and governance & regulation of AI.

 

Client Money Consultation 

The SRA received hundreds of written responses from the legal profession on this as well as insights and opinions from their round table and focus groups.

In terms of alternatives to firms holding client money, some firms did agree that third party managed accounts (TPMAs) may present less risk

However, firms had concerns that using TPMAs could increase the risk of cyber crime due to the amount of funds in them. Costs of their use and visibility were also a key concern in this respect. Other firms thought that changes to the current regulations surrounding accountant reports should be strengthened, perhaps in favour of annual declarations.

The SRA knows that any change won’t happen immediately and no decisions have been made at present. An executive speaker for the SRA stated that it may be a case that a tech solution may be the answer, something which may not even be in existence yet. 

It’s a case of watching this space.

 

Handling Client Money - Residual Balances

handling client money

We talked to Karen Edwards, Head of Professional Development at the ILFM, who found the conversation on residual balances intriguing.

Jayne Willetts, solicitor advocate, said that there is likely to be tightening up by the SRA on the issue of residual balances in the form of warning notices or additional guidance notes, but in her view she didn’t think the SRA will amend the Accounts Rules.

If you need Residual Balance Training – look no further – CLICK HERE.

 

High Volume Consumer Claims

The SRA currently has 60 live cases regarding law firms on this issue. They have published 

guidance to consumers on this point, which you can READ HERE.

The SRA realise that these types of funding (no win no fee as an example) are a vital access to justice for so many, especially when other funding methods are not available. 

The flip side is that there simply has to be better consumer protection overall. There have been significant problems and failings in this area, namely unstable funding models, lack of supervision, how ‘no win no fee’ models are sold/marketed to clients, as well as cold-calling and failings surrounding ATE/keeping clients up to date.

The SRA however does recognise that there are many claims’ firms doing a grand job, but the continued risks to consumers must be monitored and controlled.

Governance & Regulation of AI

The SRA recognises the importance of innovation in general.  

In many ways we are still at the bottom of the hill however in terms of our understanding of this fast evolving landscape. In terms of what the SRA is doing in this area, it was said that it is producing guidance to help, whilst working with tech providers. The SRA is conscious that different firms/departments will have different AI needs. 

The regulator says it has also been working with the Law Society on legal tools and the need for regulation surrounding this.

 

Question to SRA:  What can the SRA do to win hearts and minds? 

Answer: They recognise that the regulator must play its part and it recognises the need to engage with the sector… “talking and hearing”. This is why they wanted to do the Client Money Consultation differently rather than just set out proposals. They wanted to look at all of the evidence.

Question to SRA:  Supervision. Is the SRA just concerned about supervision on high volume claims or in general? 

Answer: Obligation to supervise must happen across the board.

On a side point, I read a post from John Hyde, Reporter at the Law Society Gazette.

He reported that the SRA insisted, on his questioning, that no decisions had been made on the future of the client account. He went on with his opinion post saying when asked how much money is held in law firm client accounts, the response was that the SRA didn’t know off the top of their head right now.

Hyde said that given that it was fundamental to the whole topic of client accounts, he might have imagined that the figure would be a key one. He concluded his short LinkedIn post saying, 

“The SRA is acting without truly understanding the profession or acquiring sufficient evidence”.

 

Plenary 1: AI On Trial: Felix Zimmerman from Simmons & Simons (and others)

Felix specialises in negligence claims in firms, specifically surrounding AI use.

 

Conveyancing & Artificial Intelligence

The data came first in this talk. 

There were 1.2 million property transactions in the UK last year and an increase is anticipated. 

There is a drop in conveyancers so this means less people doing more work. The conveyancing industry has a reputation for doing things slowly. However, exciting for this area of property transactional law is development with the use of AI Agents to assist (multi models) which can control the mouse and key board, log into peoples inboxes, draft emails and then put them in their draft inbox ready for the staff member to check and send out. 

This is designed to improve efficiency, Teal Compliance will be keeping its ear and eyes open with regard to risk in this regard.

 

Litigation & AI

There is now the ability to look at pleadings and review the prospects of success, thus reducing fee earners time on this.

 

Compliance & AI

There is a plethora of data online Felix said, and reviewing all of this can take time. AML compliance, risk management etc, can cause frustration for everyone, with fee earners and lawyers who just want to get on with their own client work, as well as partner feedback explaining they are worried about their firm’s bottom line, time constraints, fees and the possible impact on client relations due to delays. 

All of these stresses around compliance can significantly impact job satisfaction.

         

Replacing Staff? 

The average demographic of junior lawyers is 30 years and up now. There are concerns that they might be replaced by AI. 

Ultimately, AI is being built to empower and assist with the “heavy lifting” in a law firm. It’s important for the legal sector as a whole to understand that AI should not be delegated tasks which are not appropriate for it, and that will negatively impact their clients and the firm’s reputation whilst keeping the insurer satisfied. 

The reality is that the next set of laptops being bought will have AI chips built into them, it’s a language model training tool.

It was suggested that if we are having to double check the work of AI assistance, is it worth it in the first place? 

Arguably yes, as it will still cut down a lot of time.

 

Question: Could firms face negligence claims for their failure to use AI?

Answer: Felix says yes potentially- for example in commercial litigation. ‘Relatively’ software is commonly used in these departments to review disclosure and can provide much better selection than any team of paralegals would.

Question: Environmental Consequences -v- Commitment to Net Zero. 

Answer: Yes, recognise that there is a big environmental impact regarding use of AI e.g. use of water coolers for hard drives.

Question: What Training Should Firms Put in Place for AI Safety? 

Answer: An overview of solutions, limitations etc.

 

Economic Crime Concerns.

The panel consisted of Colette Best (Kingsley Napley), Anita Clifford (Red Lion Chambers)  Andy Donovan (Vinci Works), Harriet Holmes (Thirdfort) and Nicola Kirby (Latham and Watkins).

The Dentons case was one of the first topics discussed. Let’s face it, it wasn’t a great result for the legal profession. HOWEVER, the saving grace is that it highlighted only serious breaches will result in the SDT getting involved.

The headline from the Law Society Gazette (article dated 11 March 2025) is:

“SRA overturns Dentons acquittal in AML case”

You can read the article written by Bianca Castro HERE. The judgment from the High Court, said the ‘only evaluation’ required by the SDT ‘was whether or not the firm had complied with regulation 14 of the MLRs 2007’.

 

Source of Funds (SOF) and Source of Wealth (SOW): 

There are no anticipated changes to the legislation for source of funds / source of wealth.

The legislation states get it from the source “where necessary” so we are left to look at the LSAG Guidance. 

SOW is needed where a client is a PEP or in high risk jurisdiction. The difficulty with SOF/SOW is that a lot of it is a judgement call, making it a tricky area. Similarly, the legal profession is using terms interchangeably, which isn’t helpful. 

Generally speaking, getting six months of documentation, as a starting point, but with the possibility of having to go back several years for higher risk areas. Teal and the team will update any changes and of course we always have updates and webinars on this subject.

The panel said that documenting decision making is important with decision making, information considered and action taken as a result.

 

Law Society’s 2025 focus on Risk and Compliance    

The Law Society outlined their Formal Response to the SRA Consultation on Client Money with the following points:

Government considerations were discussed including the question, should we dispose of Enhanced Due Diligence (EDD) for high risk jurisdictions i.e. make it more risk based? Should we have lower risk factors?

The SRA has said that sanctions need to be in FWRA, either within the AML one or a separate one. 

Trade sanctions should also be considered, especially if firms are at risk. 

The SRA is carrying out sanction visits on law firms it regulates. This is mostly following on from its earlier sanctions questionnaires. It’s usually a 1 day visit, with policies and interviews taking place. Do check with the SRA on this point if you have any concerns.

Accountants’ Reports – there was talk about asking firms to submit these every 3 years (at present law firms need to obtain an accountant’s report within six months of the end of each accounting period if they hold or receive client money; and this report should only be submitted to the SRA if it is qualified, meaning it identifies issues with compliance regarding client fund).

Enforcements – we should expect SRA enforcements to continue and don’t think the ‘change of guard (Paul Philip leaving) will change this!

 

SRA Thematic Review on AML Training October 2024 Findings:

There is a distinct and direct link between the quality of AML training and findings on files. Firms and the legal sector as a whole must move beyond “Tick-Box” training, something that Teal Compliance has been passionately focused on for a long time now.

The SRA is concerned that some firms treat AML training as a mere formality, rather than a crucial tool for preventing financial crime. The regulator stresses the need for training to be relevant, engaging, and tailored to the specific risks faced by each firm.

TEAL COMPLIANCE TRAINING – find out more of how our tailored, relevant and engaging training can support your law firm policies and procedures.

As mentioned a few times throughout the day, ‘Off the shelf’ training probably isn’t going to cut it. The SRA wants to see that the training is tailored to real life scenarios. AML training should be at the very least carried out annually.

It was said that there needs to be systems in place for when someone misses AML training, including seniors management and partners.

 In terms of specific training, there was a recommendation for training that is interactive such as ‘have a look at this” examples and “ who do you think is the beneficial owner?”’ i.e. pin the tail on the beneficial owner type of situation. Great to know that Teal Compliance is doing this and more in all our training sessions.

Someone came out with this statement, which I loved: “If it has a heart beat, train it’.

It was concluded that treating templates as a final solution is wholly inadequate. Use them as a base, yes, and then meticulously adapt them to your firm’s specific requirements. This is one of the themes we see at Teal Compliance, a firm’s assumption that a template is enough. It’s not.

Have a look at our Policy Review and Writing HERE.

Regarding ongoing monitoring, Harriet Holmes said there was a necessity to document ongoing monitoring, even if there have been no changes to client or matter risk, and to make sure everyone understood the tools and technology they are using. She pointed out that if you get alerts, look at them in a timely fashion and solve any issues as otherwise it leaves you and your firm exposed.

Have you downloaded your TEAL TRACKER?


Code of Conduct and Culture in Law Firms

This session had panel speakers, Paul Bennett (Partner at Bennett Briegal LLP), Clare Hughes-Williams (Partner at DAC Beachcroft), Pearl Mosses (Head of Regulatory Compliance at Setfords Law Ltd), and Elizabeth Rimmer (CEO at LawCare).

Between the above speakers, it was agreed that firms need to have strong HR support and buy in to the employees, not just their employers

Great leadership means leading by example, ensuring your team has trust in you, whilst having a transparent organisation that has the ability for staff to call out poor behaviour. HR and supportive teams must communicate throughout the firm what your culture is and embed it firmly. This should never be just a website policy saying how great you are with your culture and DEI, you have to show it through actions.

The following were suggested to manage risk as well as look after your staff and colleagues:

  • Anti-Bullying and Harassment training.
  • Performance reviews should be part of your culture.
  • Survey staff to find out what is the drive and motivations within your culture.

Elizabeth Rimmer, CEO of Lawcare, reminded us that the charity was there for everyone in the legal sector. It’s a place of confidentiality and no judgement. 

Lawcare has been in place since 1997 and 2024 was their busiest year apart from 2020 (lock down). 

The charity findings say that a review of your hierarchy behaviours could flag up some vital change requirements as they are seeing a culture in many firms on the premise that “it’s how things are done round here” which isn’t sustainable for retaining great staff or business growth.

With the topic of psychological safety at work, questions that you might ask yourself are:

  • Do you and your colleagues feel valued?
  • Is constructive criticism in place?
  • Is there a fear of raising mistakes (i.e., if I own up to a mistake, might I lose my job or be judged?)
  • How do we learn from this as a culture (when mistakes happen – because they will happen!)?
  • Is there a subtle blame culture?
  • What are our inherent risks that might hinder our staff’s mental health?
  • Is there a lack of supervision when it comes to bullying and harassment?

Overall, this was a really great session to bring the day to a close. · 

      

Eilish Cullen’s Conclusion of Risk & Compliance Conference Talks

For me, I found the conversations and topics around the evolving risk and compliance landscape to be as follows:

There is an increasing complexity of risk and compliance for law firms, not only traditional AML and regulatory risks, but also reputational risks, which are now receiving greater scrutiny.

The role of risk and compliance professionals is evolving to encompass a wider range of responsibilities.

When it came to culture and legal ethics it was very evident that the SRA is placing greater emphasis on firm culture and well-being. We know from speaking with our friends in insurance that this is a big factor for protecting firms against risks because having a strong moral and ethical culture is seen as essential for reducing errors and improving client outcomes.

Discussions also focused on the need to balance regulatory priorities with lawyers’ ability to advocate for their clients.

The conference underscored the insufficiency of generic compliance templates. Law firms must recognise this and develop tailored AML strategies to meet the demands of the current regulatory environment. 

If you’d like to chat with me directly or find out how my colleagues can support you, please 

do get in touch with me: eilish@tealcompliance.com or you can get hold of any of us HERE

Risk and Compliance March 2025 Key Takeaways Read More »

jigsaw pieces fit together demonstrating a handshake

Our New Compliance Culture Services Partnership

What actually is ‘culture’ and what does it really mean to the employees of your business? Culture can often simply mean ‘working environment’. Taking good care of this fundamental aspect is critical to your firms future success and prosperity. In this article we delve into the importance of culture within law firms and introduce our new compliance culture services partnership.

The importance of compliance culture

In the past ‘culture’ was perhaps seen as a ‘nice to’ task, but behind areas such as fee-earning or cost management. However, nearly all business leaders now accept that caring for your teams wellbeing, and creating and maintaining a supportive and safe environment in which they work, is no longer an optional extra but vital to prosperity.

In fact, Law Care reported on 30 January 2024 that they’d received a 14% increase in the number of people reaching out for mental health support in 2023, and there’s been a massive 95% increase in the number of people saying that workplace bullying, harassment or discrimination was their primary reason for seeking support from Law Care.

What the regulators say about compliance culture

The SRA introduced ‘fair treatment rules’ into its Code of Conduct in 2023 which apply to all SRA-registered lawyers working at law firms. The requirements state that “You treat colleagues fairly and with respect. You do not bully or harass them or discriminate unfairly against them. If you are a manager (such as a partner or director) you challenge behaviour that does not meet this standard’’.

The SRA is recommending that all senior leaders and managers are aware of the steps they must take as individuals to challenge behaviour that doesn’t comply with the new rules.

Teal’s new compliance culture services partnership

As well as ensuring such a damaging and toxic environment doesn’t exist, how can we further test and measure the true culture we have in our workplace?  

At Teal we have always believed culture to be the bedrock of sound firm management and compliance. That’s why it’s the biggest, first, and most vital cog in our six Cs of compliance. Without a good culture, the others ‘Cs’ simply won’t work. It’s the foundation from which thriving firms are possible.

That’s why Teal is delighted to be launching its partnership with Gemma Ellison and the team at Heart Leadership.

Gemma said “I started Heart Leadership after spending 15 years in legal practice and so it is a profession I understand and deeply care about. I am committed to helping organisations create healthy and inspiring working environments, which I know, in turn, leads to enhanced wellbeing and higher performing teams. Often, as we move through the ranks of our industry, we are rarely told to fully consider culture and the fundamental impact it has on the working environment of our people. I want to help change that.” 

Teal’s new compliance culture services

Initially we’ll offer two core products to our law firm partners. Each has a full, or fuller option.

1. Training Workshop

We’re delighted to be able to offer a half-day or full day training workshop based around how best to implement the new SRA fair treatment rules.

2. Culture Audit

We’re also delighted to offer the Heart Leadership ‘culture audit’ which can be tailored to a three or five-day programme to suit your firm.

Get in touch

Never has it been more important to understand your firm’s culture and to understand what actions can be taken to improve whatever situation you have.

Teal is committed to help embed compliance culture within all law firms which is why we’re so thrilled to be offering these services through our new partnership.

Should you wish to find out more about these services, please don’t hesitate to get in touch.

Our New Compliance Culture Services Partnership Read More »

Two people reviewing a tablet at a desk which also has a keyboard

Finding the right legal tech solutions

Going back 10 years, finding the right legal tech was fairly easy, as case management systems were probably the only legal tech solutions law firms had to buy. Now, there are so many different technological solutions, how do you find out what legal tech is out there, and which is the best for you?

Finding the right legal tech is getting easier as the Law Society and the SRA are doing a much better job at signposting firms who are interested in legal tech solutions. The SRA has now introduced SRA Sandbox, which isn’t just for tech firms, but also for law firms that want to know what’s available. However, there’s still more that can be done.  

Suppliers also need to help get the message out to law firms and advise them on what due diligence questions should be asked. In AML, regulators have actually put an obligation on law firms to ensure that they’ve understood exactly how their legal tech works, the data sources they’re accessing, and how it solves their problems.

At Teal, we not only want to provide law firms with reassurance that we’ve gone through all the rules and requirements they need to comply with, but we also want to ensure they’re aware that if they use a technological solution, it’s not just got to be compliant. It also has to be tangibly better than before.  

This article provides helpful advice and things to consider when you’re finding the right legal tech solution for your firm.

Understanding the problems

You need to start the process by asking yourself ‘why’. Why do you need to a find legal tech solution? What problems will it solve? It’s only by understanding the problems you face in the first place, that you can really start your journey to find the right legal tech solution for you.

We all know what pain points may lead you to consider legal tech, such as the business isn’t making enough money, it isn’t profitable enough, or you can’t turn around the process quickly enough.

Not only do you need to understand the problems, but also the goals which you’re trying to reach. It’s only when you fully understand your problems and your goals, that you can really focus your efforts on finding the right legal tech to fix them.

How to work out what the problems are

This doesn’t need to be a difficult or time consuming exercise. It’s actually incredibly simple. Firstly, split the work types and ask questions such as:

  • Who’s delivering this task – lawyers or support staff?
  • How is this being delivered internally at the moment?
  • Is it part of a workflow?
  • How many units are the lawyers spending on it?
  • Could it be delivered by technology?

Once you’ve done this, you’ll start to see exactly what’s required. For example, you’ll notice if a fee earner is spending 9 units doing something which could be done by technology without taking any time at all.

An exercise like this should only take an hour or two and provides you with quick visibility of what your problems might be.

Collaboration of skills

The phrase ‘built by lawyers for lawyers’ often gets criticism. However, having lawyers building tech means they can add a level of knowledge which can be essential. Software developers who don’t understand policy, processes, and regulations can find that side of it really difficult.

However, software developers without legal knowledge build for the user experience (UX), whether the legal tech is for the client, the lawyer, or both. That UX is extremely important if the legal tech is going to work.

This is why building software collaboratively is key. It needs diverse thought when looking at what data lawyers need and what consumers need.

Collaboration within your law firm is also of paramount importance. When finding the right legal tech solution, different stakeholders, such as IT, the MLRO, finance, and the lawyers, will all have different questions. You should try to involve all concerned early on in the process to ensure transparency and that nothing is missed.

It’s all about a collaborative and diverse approach to solving problems.

The importance of integration

Integration is fundamental. However, first and foremost, it’s about problem solving with interconnectedness.

A lot of people in the market are talking about having an interoperable framework that’s going to solve all their problems. However, when finding the right legal tech, as we’ve previously mentioned, you have to start by asking ‘Why’. If you just focus on integration, you may end up with a number of technology integrations rather than having an interconnective framework.

Therefore, rather than focusing on whether the software solution integrates, the focus should be on how they all fit together as a framework.

Integration is expanding beyond our legal horizons. In the conveyancing world there’s a lot going on with regard to upfront material information. Estate agents are now starting to service information that previously has been in a conveyancer’s file before a conveyancer has even been instructed. This leads to many additional questions about what regulatory environment it sits in and how we pass that in a confidential manner between parties, in addition to making sure all the various boxes are ticked.

This is something we see coming in lots of legal work types, and that will bring a lot of opportunities. In AML, we can remove duplication and enhance the checks we’re doing from a fraud risk point of view. This will make sure those barriers are in place earlier in the process, which should hopefully make everyone’s lives easier.

Questions to ask software providers

Many law firms don’t have a tech team in place. For these firms, knowing how to ensure buy-in success when they don’t necessarily have the tech knowledge is difficult.  

Depending on your problems and your goals, the questions will be different. You may be looking at a process for cost optimisation, or one to deliver an exceptional client experience.

Before you start, you may wish to consider instructing a consultant to help you with this. They should deliver value for money, so don’t be afraid to pay someone for advice if you don’t know the questions to ask.

The basic questions to consider asking include:

  • How much is it going to cost, per user, per seat per transaction?
  • What are the returns on investment going to be?
  • Who’s going to deal with any training – is that provided?
  • Who imports the data from old systems?
  • What security does it have – is it encrypted, where is the data stored, etc?
  • Is it a web app and if so, do lawyers and clients have to download it?
  • If it’s a web app, is it available on iOS and Android?

When finding the right legal tech solution, it can be really difficult to make those decisions. One thing you shouldn’t do is choose based on the fact that it’s working for another firm. As it’s all about finding the solution to your problems, what works for them, won’t necessarily work for you.

Therefore, once you’ve asked the basic questions, you really need to delve into the problems you have and get the suppliers to tell you exactly how the tech will meet your needs. By doing this, you’re more likely to find the right solution for you.

Get in touch

If you’d like to talk to us about our latest compliance legal tech, Teal Tracker, simply contact us and we’ll arrange for you to have a demo.

Finding the right legal tech solutions Read More »

People sat talking and laughing in a group

Compliance Culture: Communication is key!

The legal industry can be a mixture of things, both good and not so good.   People tend to focus on the things that drive them, whether it’s the bottom line of fee income, helping clients or having to make what some people may see as ruthless decisions for the success of the business. However, I also see leaders in firms who consider people as their biggest asset, whether that is their staff, suppliers or their clients, and who lead by example and deal with making decisions in an ethical way.

There will always be occasions where decision makers in a firm and managers/supervisors must deliver difficult news.   It is often the case that is not the news itself that can leave individuals disappointed or upset, but the way that news was delivered.

Throughout my career I have always tried to put myself in the shoes of the person at the receiving end of the news, good or bad, and consider how that person may be feeling.   And key to that is wherever possible engage in face to face conversations. With the technology we have around us, I do think that we sometimes use it as a barrier to avoid these difficult conversations.  However, emails and instant messages can easily come across in a way that we didn’t intend, and where they have used them to “save time” can be counterproductive, leaving us to deal with the fall out from the miscommunication.   Worse still, I have seen individuals delegate the task to someone else who is clearly not equipped to handle such situations.

The key to successful communication is to have considered the best approach beforehand and considered the best interests of the recipient.   We may not always get it right, but this can be a great starting point.  We all hold the key to effective communication within our firm – have you revisited yours to make sure the key is used in the best way?

 

Get in touch

For more information about our services, simply contact one of our experts today.

Compliance Culture: Communication is key! Read More »

Delegates sat at a conference

Teal Compliance and Lockton Conference 2018

 

The Teal Compliance and Lockton Conference 2018 takes place on the 26th April 2018 in London.  With so much change afoot in the world of compliance, the theme for this year’s conference is ‘Navigating a year of change’.

As a team we have all been working hard to pull together an agenda which covers all the key updates and provides perspectives from industry experts on practical application of the changes to regulations – from AML to GDRP to Code of Conduct.

The agenda

The full agenda has now been released:

  • Chair’s Welcome
  • Opening Comments – Robert Bourns, Chair of the Law Society Board and former President.
  • Session 1 – Anti Money Laundering update – Amy Bell, Chair of Law Society’s AML Taskforce and Mark Heffer, AML Consultant with Teal Compliance.
  • Session 2 – The Importance of Ethics – Sarah Mumford, Interim Director of Risk, Trowers & Hamlins LLP and independent legal risk consultant
  • Session 3 – All Things Data – Emma Willis, GDPR Consultant at Teal Compliance and Edward Whittingham, Business Fraud Prevention Partnership
  • Session 4 – Cyber Risk Mitigation – Dave Williams, TrustedIA and Mark Hawksworth, Cunningham Lindsey
  • Session 5 – Managing Risk: The Insurers View – Panel: Adam Curran, Inter Hannover, Jay Bowey, Pelican, Anthony Judge, Omnyy
  • Session 6 – New Code of Conduct – Ian Johnson, The Institute of Legal Financial Management and Paul Wilkinson, Audit Compliance Ltd
  • Session 7 – Getting it Right! – Amy Bell
  • Session 8 – Technology in Compliance – Vicky Simpson, Teal Compliance, Matt Hodges-Long, CEO TrackMyRisks, Graeme Port, Head of Product at encompass Corporation
  • Closing remarks and drinks reception

In addition the whole of the Teal Team will be available throughout the the day and many of our associates will be leading speaking session, alongside high profile external speakers from the world of risk, compliance, insurance and regulation.

The aim

The aim of the Conference is to prepare you for the year of change and to challenge you in terms of thinking about risk and compliance.   There are firms who are taking unnecessary risks by not having sufficient “know how” or resources.  This is of course something that Team Teal can assist you with.

The speakers on the day will guide you through a series of perspectives from a risk/insurance point of view to GDPR and Cyber Crime. Panel Discussions will take place and will provide you with the opportunity to ask questions and the Team will be available after the Event to follow up on any requirements.

Get in touch

Early Bird tickets are on sale from now until the 18th March and can be found on our events page.

Alternatively, find out more about our training packages or contact our experts today.

Teal Compliance and Lockton Conference 2018 Read More »

Back of two police officers

Do we need to ‘change up’ AML Training?

 

I have been training in AML for 13 years. I love it, I love spreading the word, helping staff in law firms understand the risks they face, and what to look out for to try and identify someone trying to use them to launder money.

Sopranos, The Wire, Breaking Bad and McMafia have all played a part in raising the awareness of how the baddies launder money, but we need to make sure that the training is relevant to lawyers, and their staff.

I’ve trained countless numbers of MLROs in those 13 years. I’ve never met any who did not accept and appreciate the need to have their firm understand the anti money laundering legislation and how to apply it in their firm.

That said, I have been talking about the same methods in which the money launderers operate for most of those years, car washes, take-aways, and memorably (if you’ve been on the course you’ll remember) nail bars. All of those are still relevant, but there are new ways in which the criminals are operating and it is critical that we gain an understanding of those in order to protect our firms, the people who work for us and the wider society who are damaged by money laundering and the activities of serious and organised crime.

What about your construction clients who are using sub-contracted labour, who are in turn victims of human trafficking, what about the person who is lucky on fixed odds betting machines, who has really been pumping the machine with the proceeds of selling drugs on bicycles on street corners in your town. It’s on your doorstep, I just want to help you see it.

For that reason, I am delighted to have Mark Heffer join us at Teal Compliance. Mark is a Financial Crime Consultant, Accredited Financial Investigator and former Detective Constable. He served for over 25 years with the Devon and Cornwall Constabulary with the Serious and Organised Crime Branch and specialised in crime such as money laundering, complex fraud, human trafficking, drug trafficking, bribery and corruption.  He is an expert in all aspects of POCA, money laundering, confiscation, restraint, and SARs and has a reputation for bringing a very real world, hands on approach to his consulting work.

He supports law firms with a range of services including:

  • Expert training and investigation in all aspects of Financial Crime, Anti Money Laundering, Compliance and Fraud.

  • Bespoke investigations for Business and Private Clients – managing reputational risk

  • Assisting firms with the perils of Restraint/Production Orders

Together, we have written new AML courses, which focus on these new tactics being deployed by the baddies, and how they target not just you, but manipulate the banks, accountants and estate agents, before they get to you, the lawyers, adding layers of legitimacy which can be difficult to unravel. We’re running a webinar for MLROs on the 8th March which will focus on these tactics, and how to spot and avoid them. Visit our events page for more details.

Mark and I are also taking bookings for our brand new in house course. It is a 90 minute course, fully incorporating the 2017 regulations and full of relevant examples of how firms are targeted. In house training can be incredibly cost effective, with up to 100 people trained a day for £1250 plus VAT (and travel expenses)

Get in touch

If you need help with AML compliance or need compliance training, simply get in touch with one of our experts today.

Do we need to ‘change up’ AML Training? Read More »

Woman sat on teal chair on her laptop. Teal compliance logo and words "Providing law firms with exceptional compliance solutions."

Launch of Teal Compliance – What’s in a name?

Today marks the launch our new business, Teal Compliance!

If you’ve ever met me in person you will have seen there is an unmistakable affiliation with the colour. It is always about my person somewhere, bags, clothes, hats, jewellery.

Why do we like certain colours? I’ve not done any research, I am sure lots of people have a view, tested scientifically. For me it is an instinct. I have green eyes and it’s always been my favourite, but over time, I’ve been drawn to Teal.

I had a hard start to my career in Law, in at the deep end, little support and huge responsibility. It was scary! I survived and thrived post qualification in a well run firm, with proper support. A firm wanting to do well by its clients and its people.

Whilst fee earning remained high pressured, I learnt over time to deal with these pressures, by communicating, sharing, and ensuring I tackled problems head on, pushing myself sometimes outside my comfort zone.

Teal to me is a calming, reassuring colour. It is that combination between green and blue. Green, a forest, strong and supportive. Blue, the ocean, fluid and adaptable, sometimes dramatic, sometimes soothing.

It is fashionable at the moment; but my love of Teal is long standing, it will endure because it represents who I am, who my team are.

Our clients, like their own clients are often concerned when they need our help, they are worried about the risks their businesses face, they are keen to be compliant, to make sure the rules they have to follow are manifested in their procedures, sometimes things have gone wrong and they need support to sort it out.

We bring calm, sensible and practical support, not bling, but not dull either! We are sturdy, dependable, but adaptable, fluid, to meet the needs of our clients. We offer frank appraisals and real life experience (I think over 100 years combined so far), we know your business, we’ve run law firms, we’ve done fee earning, we’ve managed people, we run financially stable businesses of our own. We are that rare breed of compliance professionals that know what it’s like to walk in your shoes.

If there is something troubling you, your compliance to do list is nagging at you, then get in touch for a chat and we’ll let you know how we can help.

Amy Bell

Launch of Teal Compliance – What’s in a name? Read More »