Certificate in Law Firm Compliance, Regulation & Risk

Introduction

Law firms operate within a complex and constantly evolving regulatory environment, with compliance forming an increasingly important part of everyday practice.

Understanding the regulatory framework and the responsibilities of those involved in managing compliance is essential to ensuring that a law firm meets its obligations and effectively identifies and manages risk.

But where do you start? Who are the key people responsible for compliance? What do all the acronyms mean? And what are the practical steps a law firm can take to manage its regulatory obligations and reduce risk?

This new, full-day virtual classroom seminar provides a practical introduction to the key areas of law firm regulation, risk and compliance. Covering the essential regulatory requirements and common compliance challenges faced by law firms, this course will help you build your knowledge and confidence in this increasingly important area.

Led by Jo Morris, this session will combine clear explanations with practical guidance, helping you understand the key responsibilities of those involved in law firm compliance and how regulatory requirements can be effectively managed in day-to-day practice.

What You Will Learn

This live and interactive session will cover the following:

• Who’s who in a law firm - the key people, their roles and responsibilities
• The SRA regulatory framework - an overview of the SRA Standards and Regulations, including the Principles and Codes of Conduct
• The roles of the COLP and COFA - understanding their responsibilities and how they contribute to effective compliance
• SRA Accounts Rules - an overview of the key requirements and the current position on client accounts
• Money laundering compliance - the roles of the MLRO and MLCO and what law firms need to know
• The AML regime - key points from the Money Laundering Regulations and Legal Sector Affinity Group (LSAG) guidance
• Sanctions compliance - understanding the sanctions regime and what law firms need to do to manage the risks
• Data protection - key principles and practical steps for protecting and managing data
• Cyber crime in law firms - understanding the risks and what to do if your firm is affected
• The Bribery Act 2010 - the key requirements and what they mean for law firms
• Your law firm's website - understanding the SRA Transparency Rules and costs information requirements
• Complaints handling - what an effective complaints procedure should look like and an introduction to the Legal Ombudsman
• Engagement letters and Terms of Business - what they should contain and the key issues to consider
• Continuing Competence and Practising Certificate renewal - understanding your obligations and key renewal requirements
• Policies and procedures - what your firm needs to have in place, what they should cover and where to find useful guidance
• What happens if things go wrong? - an overview of SRA fines, enforcement and sanctions
• And more - practical insights and guidance to help you navigate the changing compliance landscape

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.