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
Regulatory Compliance
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The Future of Client Accounts: Should Law Firms Move to Third-Party Managed Accounts?
The management of client accounts has come under increased scrutiny in recent years, with the Solicitors Regulation Authority (SRA) questioning whether law firms should continue to handle these accounts themselves.
New to the role of COLP and MLRO?
Firstly, if you’re new to the role of a compliance officer in your law firm, congratulations! If you’re the MLRO or the COLP, which are key positions in a law
How to Master the Tricky World of the Source of Funds and Wealth
AML compliance can feel like walking a tightrope, right? Especially when it comes to a client’s source of funds and wealth. It’s a balancing act: you need to be flexible
The Hidden Costs of Inadequate Risk Management in Law Firms
What keeps a lawyer up at night? The answer will depend on where they sit in their role in a law firm. As a solicitor and AML compliance specialist, I
Guide to Source of Wealth & Funds for Law Firm Compliance
As many of you will know I am the Chair of the Law Society’s Economic Crime Taskforce which allows me to share with Team Teal and our clients inside intelligence
SRA Consultation Response Tips for Client Account Changes
Further to the SRA’s January Consultation latest round, Amy Bell at Teal Compliance would like to impart her insights best practice for responses. It’s a hot topic for 2025
Why Culture is the Foundation of Compliance in Law Firms
The word “culture” in terms of how a law firm is run, shouldn’t be a simple trending buzz word, or used for soft skills in marketing and for recruitment requirements.
Risks of Law Firm Client Accounts: Why the SRA is concerned
You will have read at the tail-end of 2024 that the Solicitors Regulation Authority (SRA) has raised concerns over the management of client accounts held by law firms, prompting a
New SRA Notice Warns Against Funds Missing From Client Account
The SRA has published its new Warning Notice (21 June) warns against funds missing from a firm’s client account. The SRA has made it clear shortages will not be tolerated.