Whether you are contemplating a full-scale merger with another law firm, or taking over all or part of another firm, lack of proper forward planning, particularly in relation to risk, can lead to problems which far outweigh the benefits.
We work with the acquiring firm to test regulatory compliance at the target firm, with particular focus on financial stability together with a wide range of pre-merger duties. We ensure that the merged firm has addressed the range of compliance risks posed by the merger and is best placed to operate in a consistent and efficient way.
Where an acquisition takes place, the SRA does not need to approve the change. However, we can advise you on making updates to your firm’s records and assist with the necessary notifications and applications.
For a merger, the new body will need to apply to the SRA for authorisation as a recognised or licenced body.