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
Regulatory Compliance
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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.
Is your law firm’s website compliant with the SRA Price Transparency Rules?
If you’re involved in managing compliance at a UK law firm, you’re probably no stranger to the SRA Price Transparency Rules. But just how compliant is your website? In this
Compliance Planning: Are you ‘regulator ready’ for 2024?
In 2023 we saw increased levels of guidance and new directives from our industry regulators along with new legislation and ongoing changes in areas such as sanctions. Therefore, it’s never
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
What’s the regulator guidance on source of funds and source of wealth?
Source of funds and source of wealth can be tricky because the regime we have is risk based. It’s not just about making sure you get bank statements. It’s also
The Case of Nirosha Jayawardena and its Nine Key Lessons
In an ever-changing landscape, keeping abreast of new developments is essential in the legal profession. This week, I delved into the intriguing case of Nirosha Jayawardena, a solicitor who recently
New SRA fining powers for AML – Be careful as they’re going to use them!
The Solicitors Regulation Authority (SRA) has long desired more robust punitive capabilities against traditional law firms. They have historically possessed the ability to impose significant fines on Alternative Business Structure