SRA Regulatory Compliance

Meet regulatory requirements, improve efficiency and
better manage your firm’s exposure to risk.

SRA Regulatory Compliance

Identifying and managing risk are at the core of an effective approach to compliance.  You are required to have effective processes and procedures in place and be in a position to demonstrate how you are addressing regulatory requirements. You should have transparent systems and a clear audit trail for the SRA to follow. Ongoing monitoring, analysis and assessment of risks facing your business should be a fundamental part of the management of your firm.

Legal Compliance Services provides you with a comprehensive compliance service. We identify exactly where your firm requires improvement and then produce bespoke, practical systems and procedures that complement and enhance your existing structures to ensure all requirements of the SRA Standards and Regulations and associated regulatory obligations are fully addressed. We give advice on getting the most from the systems and how to best review them. Many of our clients find that this comprehensive approach to compliance and risk management makes them a more attractive proposition to professional indemnity insurers.

All of our consultants are former practicing solicitors and SRA experts on compliance and risk management. They have all provided hands-on compliance solutions to hundreds of law firms of all types and sizes and have worked on the development of SRA regulations. They are therefore ideally qualified to provide you with bespoke advice and compliance systems that are efficient and cost-effective and fully meet the SRA’s requirements.

Whether you are a new law firm or you are looking to improve and consolidate the approach to compliance across your firm, our experts will carry out a comprehensive assessment of the compliance risks facing your firm, and report back to you on your firm’s specific requirements and any shortfalls identified.

Where no or insufficient compliance systems, policies and procedures are in place, we create a bespoke ones for your firm and give advice on how they should be implemented.

Areas covered include:

  • the obligations of the COLP and COFA
  • client care
  • complaints
  • conflicts of interest
  • business and financial management
  • accounts
  • data protection
  • outsourcing
  • information and communications technology
  • supervision
  • training
  • anti-money laundering
  • fraud prevention
  • Bribery Act requirements
  • investment business
  • regulatory reporting requirements
  • monitoring and review of compliance

Learn more about how we can help you ensure you fulfil your compliance obligations on an ongoing basis.

What our clients say

As a co-owner of a law firm, there is a large amount of responsibility relating to compliance, which can be overwhelming.   Legal Compliance Services, reviewed all of our compliance, updated our documents and provided templates and guidance to ensure we were doing everything correctly. LCS provided training to our firm and have continued to assist us with any questions that require extra thought.  I have found LCS to be extremely helpful, approachable and experts in the field.  I wouldn’t hesitate to recommend them for all your compliance needs.

Paula Hebberd
Director, Woodstock Property Law

We attended several training courses on compliance, as we were keen to understand all of our COLP and COFA obligations. However, at the conclusion of the courses, we still felt as though we were in a wilderness and that, although we were better informed, we hadn’t been shown what we actually needed to do in order to achieve compliance. We therefore decided to contact Jonathan Fidler of LCS and he has helped us tremendously, by showing us in a comprehensible way how to achieve compliance in all areas of our firm’s work. We now feel we have clarity, and we intend to continue to obtain guidance and support from Jonathan and his colleagues at LCS to ensure we remain up-to-speed in the future.

John Ferguson
Partner, Elliots Bond & Banbury

All solicitors are concerned about compliance issues. We had a full ‘health check’ carried out by Jonathan Fidler of Legal Compliance Services and were extremely pleased with the efficient, helpful and friendly way he dealt with matters. We have also consulted him on other matters and have always been very appreciative of his professional approach and assistance.

Nigel Barnes
Senior Partner, Barnes & Partners

It is a pleasure to work with Richard who always makes himself available whenever we need his help and who applies a commercial approach to our business.

Geraint Owen
Director, GO-LAW Solicitors