CPD Hours Level
Learn Live expert panelInformation 5 UpdateInformation
SRA Competency A D


Chaired by Trevor Hellawell, this live broadcast conference will examine the key challenges and problem areas which law firms are currently facing.

Delivered by a panel of compliance experts, this conference will cover everything from the latest sanctions guidance to whether the traditional high street practice has had its day and what this means for professional structures.

Each session will provide opportunity for questions and answers.

Conference Agenda

This live and interactive 5-hour conference will cover the following:

10am-11am: Sanctions & Economic Crime Act 2022

Trevor Hellawell

In light of the Russian incursions into a neighbouring sovereign state, increasingly lawyers in the UK are asking what their ethical duties are when providing services to Russian, Belorussian and other clients. This session will discuss the issues raised by the Ukraine crisis and the measures that the UK, and others across the globe, have taken and will take to undermine the Russian effort, and the immediate implications for professional legal services in the UK.

This session will cover:

  • The impact of recent economic and other sanctions
  • The content and effect of the Economic Crime (Transparency & Enforcement) Act 2022
  • The establishment of the kleptocracy unit within the NCA
  • The use of crypto-currencies to evade sanctions
  • The impact on our internal procedures - AML and otherwise
  • The answers to the following questions
    • How do I check the sanctions lists?
    • How do I get a Treasury licence if my clients are affected by sanctions?
    • What ‘should’ I be doing right now - do I need a policy?
    • Can I not trust my electronic search provider to keep me up-to-date?
    • Can I still act for Russian clients? Can I drop my Russian clients?

AM break

11:15am-12:15pm: The Legal Sector Affinity Group (LSAG) Guidance - How Far Have You Got?

Jo Morris

It seems like almost every day something changes or gets updated in the AML/CTF world and it is hard to keep up with what is going on. You are updating your risk assessment one minute and amending your policies and procedures the next, all the while still working on the changes that you have to make from the LSAG guidance.

At over 200 pages it is a long read and was quite an upgrade from the guidance last brought in with the MLR2017. As the world of AML/CTF moves on we can expect more changes, so we need to ensure we have got everything up to date.

This session will cover:

  • An update on the guidance
  • What the SRA are saying
  • Terminology
  • Key points of the LSAG guidance including:
    • The principles
    • AML governance including policies, controls and procedures
    • AML Risk Assessments including the National Risk Assessment, SRA Sectoral Risk Assessment, practice wide risk assessment and client and matter
    • Client Due Diligence
    • Source of Wealth (SoW) and Source of Funds (SoF)
    • Reporting discrepancies
    • Training
    • Record keeping
    • Red flags

12:15 - 1:15pm: The SRA’s Wellbeing Strategy

Tracey Calvert

The SRA is looking to law firms to facilitate the environment in which wellbeing is accommodated and that risks to individual wellbeing are minimised. Ignoring the strategy and the regulatory direction of travel places law firms at risk of adverse scrutiny.

Are you in a position where you can respond to this interest?

This session will cover:

  • The history of these developments
  • SRA’s rule requirements
  • Wellbeing strategies
  • What the SRA expects to see in practice

Break for lunch

2-3pm: COLP & COFA Reporting Obligations Explored

Rebecca Atkinson

Compliance officers must fully understand their reporting obligations if they are to perform their duties effectively.

Working through a series of scenarios, you will learn whether a report should be made, when the report should be made and how to approach internal investigation.

This session will cover:

  • What are the reporting obligations under the SRA Codes of Conduct and how do they differ from the prior code?
  • What does 'serious breach' mean? Exploring the SRA's Enforcement Strategy
  • How should you approach a potential breach, and should you investigate first and report later?
  • How to structure your report to the SRA

PM Break

3.15-4.15pm: Professional Structures After the Rule Changes

Trevor Hellawell

As the years have gone by since the new rules were introduced there has been much innovation in the legal sector.

The old, traditional high street practice seems to have had its day as more and more individuals opt for the freelance option, and yet others (nearing retirement) are deciding to sell out to larger, more nimble conglomerates.

Is there a future for the high street practice?

This session will cover:

  • ‘New’ options under the rules
  • Choice of regulator
  • Do we need to be regulated at all?
  • Options to consider
  • Mergers & acquisitions
  • The rise of the freelancer

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.

Book now

Added to basket

Learn Live | 03.10.2022

N/A | 10:00am - 4:15pm

Compliance & Regulation for Law Firms - 2022 Virtual Conference

Continue Shopping
10:00am - 4:15pm

Prices (ex VAT)
Plan Information
Ticket Information
Group bookings
Discounts are available for multiple places. If you have 5 or more people interested in participating in this virtual learning session please email us at group@mblseminars.com for more information.

Related Events