New AML Guidance needs a careful review
On 20th January 2021 the Legal Sector Affinity Group (LSAG) finally issued their new draft AML guidance for law firms. Since 2017 LSAG have agreed to issue one sector wide
Legal Compliance
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A look at the new Freelance Solicitor Model
In November 2019, the SRA introduced a new model of operating for so-called ‘freelance solicitors’. The intention of the freelance solicitor model was to allow solicitors greater flexibility when providing
Merging under pressure and compliance due diligence
There are firms that, for one reason or another, are finding themselves in unexpected commercial difficulties that make their longer term viability questionable. Radical reconstruction by consolidation through merger may be
Managing Risks When Supervising Remotely
Effective supervision has always been important from a risk management perspective but never more so than now, when it comes to managing risks when working remotely. Especially if you’re having
What is a Politically Exposed Person (PEP) and how do I know if my client is one?
The SRA expect solicitors and firms to continue to meet the high standards the public expect (which includes upholding the rule of law). It’s therefore important to ensure that all
The SRA Transparency Rules – Is your website compliant?
As you’re no doubt aware, the SRA Transparency Rules (the Rules) came into force back in December 2018 requiring firms to publish price and service information for various practice areas.
Who should certify client identification documents and what should they check?
Some of the certifications I’ve seen on client identification documents that fee earners have uploaded as part of their client due diligence checks, have led me to raise an eyebrow.
SRA Standards and Regulations 2019 – Principle 4 To Act with Honesty
The much-anticipated SRA Standards and Regulations 2019 have been live since 26th November 2019 and I am sure many law firms are still racing around updating policies and training staff
Don’t forget to pay your ICO fee!
The UK Information Commissioner’s Office (ICO) has recently launched a campaign to send reminders to all UK registered companies to ensure that they comply with their legal obligation to pay
The Benefits of Electronic Verification
The world of electronic verification is an ever-evolving industry, with some providers supporting features like facial recognition, authentication of documents, direct access bank account information, and PEP and Sanctions screening.