CPD Hours Level
Conference expert panelInformation 6 UpdateInformation
SRA Competency B


Chaired by Janet Taylor, this popular annual conference returns with a revised and updated programme delivered by a panel of leading experts in this complex and fast moving area of practice.

Topics to be covered range from how to spot potential fraud within your own firm through to the latest guidance from the SRA on the Accounts Rules and how to mitigate disciplinary risk.

Conference Agenda

This conference will cover the following topics:

9:30am - 10:15am: Supporting Financial Compliance

Tracey Calvert, Oakalls Consultancy

Protecting client money and assets is a standard contained in the SRA's two Codes of Conduct and is a behaviour expected from everyone in your firm.

  • The starting point - why is the duty in the Standards and Regulations?
  • Key expectations of every member of the firm
  • Identifying the main players in risk management
  • Management tools designed to minimise the risks

10:15am - 11:00am: Being a Better COFA: Tips to Identify Fraud

Richard Lane, Legal Finance Professionals Ltd

Key to fulling the role of COFA is the essential obligation 'to ensure compliance with the SRA Accounts Rules' within SRA regulated businesses. This session will provide a unique insight by a former senior manager within the SRA's forensic investigation team as to what the COFA can do to spot potential fraud within their own firm.

Topics will include:

  • Effective internal controls
  • Understanding bank reconciliations
  • Identifying high risk areas
  • Warning signs to look out for
  • Thinking outside the box

11:15am - 12:00pm: SRA Accounts Rules

Janet Taylor, Taylor Mowbray

The new rules have been in force for several months and this session will look at the main rules and how they have been implemented.

The session will cover:

  • The key details of the rules
  • Operating client's own bank accounts (rule 10) - current requirements/expectations?
  • The latest guidance from the SRA
  • Higher risk areas
  • Common polices adopted by firms

12:00pm - 12:45pm: Money Laundering: Common Mistakes & How to Avoid Them

Amy Bell, Teal Compliance

Recent cases have shed light on mistakes that people make when they unwittingly get involved in money laundering.

This session looks at the common issues, and how to make sure you build your processes to avoid them and will cover:

  • Focusing too much on identity documents
  • Missing the risks on money laundering on onboarding
  • Over reliance on existing information
  • Assumptions about source of funds and wealth
  • How to evidence ongoing monitoring

12:45pm - 1:00pm: Questions on Morning Session

2:00pm - 2:50pm: Banking Activities - Avoiding the Problems and Pitfalls

Tracey Calvert, Oakalls Consultancy

This is a high-risk activity and which could result in scrutiny of individuals and the firm itself.

This session will cover:

  • What does the anti-banking rule say?
  • Understanding the reasons for the ban
  • Examples of banking activities
  • Ways to deliver the anti-banking message

2:50pm - 3:40pm: Financial Compliance: Lessons Learned from the Solicitors Disciplinary Tribunal

Richard Lane, Legal Finance Professionals Ltd

Much can be learned from examining the findings of previous cases heard by the Solicitors' Disciplinary Tribunal (SDT). This session will provide a summary of some of the more significant cases considered by the SDT in recent times and what you can learn about what matters most to the SRA and the SDT.

The topics covered will include:

  • What type of cases referred to the SDT?
  • Are all breaches equal?
  • Mitigating disciplinary risk
  • Emerging themes
  • SDT new standard of proof

3:55pm - 4:45pm: Educational Design and Data Collection: Demonstrating Compliance with AML and Financial Management Obligations

Jane Jarman, Nottingham Law School

The new SRA Enforcement Strategy requires practitioners and their staff to 'explain and justify their decisions and actions'. This need is nowhere more acute than in relation to the changes in AML compliance, the new SRA Accounts Rules and the Standards and Regulations. The emphasis on competence also suggests that training records may well be subject to scrutiny, together with assessment of learning. Using a case study drawn from material discussed during the day, this session will:

  • Provide an opportunity to discuss the application of the new Standards and Rules
  • Explore the decision making process and the best way to 'explain and justify' actions for individual solicitors
  • Discuss the implications for law firm management
  • Develop a firm wide curriculum to support the decision making process and continuing competence
  • Suggest simple data collection methods to demonstrate educational engagement and engagement of staff

4:45pm - Close: Questions & Answers

Quick Quiz - Test Your Knowledge: Solicitors Accounts Rules

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Conference | 12.05.2020

London | 9:30am - 5:15pm

Financial Compliance for Law Firms - 2020 Conference

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9:30am - 5:15pm
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Discounts are available for multiple conference places. Please telephone 0161 793 0984 or information@mblseminars.com for details.
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