What is the Solicitors Compliance Service?
Compliance with the wide range of regulatory obligations - whether they be the SRA Code of Conduct, the Solicitors’ Accounts Rules or Anti-money laundering processes - has become a major concern for law firms of all types and sizes. The regime can cause particular problems for small and medium sized firms where it is not feasible to employ specialist compliance personnel.
With the SRA having published the final version of its new ‘Handbook’ – containing all of the solicitor regulation due to take effect from October 2011 – there is also a need to adapt current management systems to meet the very different regime required under ‘Outcomes Focused Regulation’. All of this, of course, while for many firms practising conditions remain challenging.
The Web4Law Solicitors Compliance Service (‘SCS’) is designed to help you deal with this growing compliance burden. Chapter 7 of the revised Code of Conduct will require you to ‘have effective systems and controls in place to achieve and comply with all the principles, rules and outcomes and other requirements of the Handbook’ and to ‘identify, monitor and manage risks to compliance’.
Web4Law’s Solicitors’ Compliance Service (‘SCS’) provides proactive advice, training, support and precedent materials to meet the ever-increasing challenges of ongoing compliance. SCS delivers a combination of expert consultancy advice and practical training resources - all for an easily managed monthly fee.
The monthly subscription rate is tailored to each firm’s requirements and will also take into account the number of likely users of services provided. As a guide, the usual monthly price will be based on 2 to 4 hours of your billable time (based upon your partners’ hourly rates). For further information or to place your subscription, simply drop an email to scs@web4law.co.uk.
