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SRA Compliance Solicitor

Compliance and Practice Manager Services

Law firms regulated by the Solicitor Regulation Authority (the SRA) are required to comply with the SRA’s seven principles and at 43Legal our SRA Compliance Manager services are designed to help law firms to comply with the SRA requirements and to help navigate your way through what is required in terms of SRA compliance.

Depending upon your needs and requirements, we can tailor a bespoke package to assist with SRA compliance and manager services and advice required, whether that be on a retainer basis or project specific, fixed fee.

Some of the areas we cover and assist law firm with are as follows: –

Risk Management and Loss Prevention
  • File Auditing – file reviews are an important way to ensure that quality control process and procedures are being implemented firm wide and can assist to help satisfy third parties such as Professional Indemnity Insurers that the firm is actively involved in risk prevention and therefore are considered low risk. Depending upon your needs, we can be retained to undertake monthly file reviews or a bespoke project as a means to review existing quality control systems. File audits can also be a helpful way of checking for AML compliance and client due diligence and whether these practices are adequate to meet the needs and potential exposure of the firm.
  • Risk assessments – we help firms prepare and review bespoke risk assessments for example anti-money laundering practices. Ensuring that risk assessments are in place provides for a reasoned and risk-based approach by the firm and if things go wrong, they can also help in terms of being utilised as a defence in showing that the firm has exercised reasonable judgement.
  • Reviewing and drafting terms and condition, in order to limit liability to clients.
Support for Risk and Compliance Teams
  • Outsourced Compliance teams – we can offer a second opinion in the event that there are any issues as or when they arise.
  • Often compliance teams can become over stretched certainly during peak times and rather than recruiting an additional member of staff, we can step in and assist in terms of providing compliance and risk management services on either a retainer basis or a specific bespoke project.
  • We can assist in terms of helping you to overhaul your compliance office manual, client engagement letters. For example, what systems are in place to avoid conflict of interests occurring or breach of confidentiality?  Are these practical and adequate for the size of the firm?
  • Conflict of Interest/Confidentiality – We can help you to navigate through potentially difficult issues that arise involving conflict of interest, whether a conflict has arisen or a breach of confidentiality and how best to proceed.
GDPR and Data Protection Issues
  • Subject Access Requests – We can assist in terms of identifying when a client’s request amounts to a subject access request (SAR).
  • We can also assist in terms of helping to identify what documents are to be sent in order to comply with the request
  • We are on hand to answer questions such as – What happens if a Subject Access Request includes information relating to a third party? When do I need to provide a response by? How long do I need to keep data for?

Whatever the issue we are able to help you navigate through what can often be difficult issues that arise in fairly tight time scales.

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