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Latest Practice Compliance News

US Congress to tackle anticorruption legislation, including bill to outlaw foreign bribe solicitation

US Congress to tackle anticorruption legislation, including bill to outlaw foreign bribe solicitation

The following Corporate Crime news provides comprehensive and up to date legal information on US Congress to tackle anticorruption legislation, including bill to outlaw foreign bribe solicitation

OFAC settlement extends sanctions reach beyond US dollar

OFAC settlement extends sanctions reach beyond US dollar

The following Corporate Crime news provides comprehensive and up to date legal information on OFAC settlement extends sanctions reach beyond US dollar

Practice Compliance weekly highlights—16 September 2021

Practice Compliance weekly highlights—16 September 2021

The following Practice Compliance news provides comprehensive and up to date legal information on Practice Compliance weekly highlights—16 September 2021

EU to propose ban on forced labour-linked products, Von der Leyen says

EU to propose ban on forced labour-linked products, Von der Leyen says

The following Commercial news provides comprehensive and up to date legal information on EU to propose ban on forced labour-linked products, Von der Leyen says

Featured Practice Compliance content

What is a solicitor's undertaking?

What is a solicitor's undertaking?

What is a solicitor's undertaking?An undertaking is a commitment by a solicitor to do something. It can be enforced against the solicitor by the...

SRA Code of Conduct for individuals and firms

SRA Code of Conduct for individuals and firms

SRA Code of Conduct for individuals and firmsThis Practice Note provides guidance on the SRA Codes of Conduct, contained in the SRA Standards and...

Conflicts of interest 2019

Conflicts of interest 2019

Conflicts of interest 2019Conflicts of interest can cause difficult and serious problems for solicitors and law firms, both from a compliance point of...

Legal Services Board

Legal Services Board

Legal Services BoardThe Legal Services Board (LSB) is the single independent oversight regulator of the legal profession and sector in England and...

Practice notes

AML and counter-terrorist financing—source of funds and source of wealth

AML and counter-terrorist financing—source of funds and source of wealthSource of funds and wealth was a key focus of the SRA’s Preventing Money...
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19th May
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Practice notes

The Information Commissioner’s Office (ICO)

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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19th May
Practice notes

Compliance officer for legal practice—COLP—title and duties 2011 [Archived]

Compliance officer for legal practice—COLP—title and duties 2011 [Archived]The compliance officer for legal practice (COLP) sits at the heart of the...
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19th May
Practice notes

Brexit—exiting the EU under Article 50 [Archived]

Brexit—exiting the EU under Article 50 [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note contains...
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Produced in partnership with Adam Cygan of University of Leicester 19th May
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Practice notes

SRA Accounts Rules 2019

SRA Accounts Rules 2019This Practice Note sets out the requirements of the SRA Accounts Rules 2019 (the 2019 Rules), in force from 25 November 2019,...
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19th May
Precedents

Modern slavery: contract clauses

1DefinitionsModern Slavery Policy•means the Customer's anti-slavery and human trafficking policy as set out in Schedule [insert] as updated by the...
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19th May
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Practice notes

High-risk third countries tracker

High-risk third countries trackerOrganisations caught by the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer)...
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19th May
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Practice notes

Active bribery, passive bribery and bribing foreign public officials

Active bribery, passive bribery and bribing foreign public officialsThe purpose of this Practice Note is to provide a general understanding of the...
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Produced in partnership with Joanne Kane of Carmelite Chambers 19th May
Precedents

Standard contractual clauses for international transfers—set II—controller to controller—ICO templates

In briefThis precedent links to: •a template created by the UK Information Commissioner’s Office (ICO) of the ‘Set II’ or ‘2004’ EU Standard...
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19th May
Practice notes

Introduction to retained EU law

Introduction to retained EU lawThis Practice Note provides an introduction to retained EU law. It provides an overview of the key definitions and...
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Produced in partnership with Dr. Kieran Laird of Gowling WLG 19th May
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Practice notes

Safeguards and information barriers

Safeguards and information barriersProtection of confidential information is fundamental to your relationship with clients, both as a matter of law...
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19th May
Practice notes

Undertakings and the SRA 2019

Undertakings and the SRA 2019What is an undertaking?An undertaking is:•a statement, given orally or in writing, whether or not it includes the word...
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19th May
Practice notes

Duties of confidentiality and disclosure 2019

Duties of confidentiality and disclosure 2019The protection of confidential information is a fundamental feature of the solicitor-client relationship...
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19th May
Precedents

Financial sanctions policy

1IntroductionThis financial sanctions policy is designed to ensure we comply with applicable financial sanctions laws made under the UK sanctions...
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19th May
Practice notes

SRA Handbook 2011 [Archived]

SRA Handbook 2011 [Archived]The SRA Handbook 2011 sets out standards and requirements that individual lawyers and firms are expected to achieve and...
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19th May
Practice notes

Working with European lawyers—the Registered European Lawyer (REL) regime

Working with European lawyers—the Registered European Lawyer (REL) regimeAt 11 pm (GMT) on 31 December 2020, the Brexit transition/implementation...
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19th May
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Most recent Q&As content

Q&As

How do we conduct AML checks for an insolvency practitioner?

How do we conduct AML checks for an insolvency practitioner?STOP PRESS: Draft Legal Sector Affinity Group (LSAG) AML guidance was published on 20...
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15th Aug
Q&As

Can I accept payment of an outstanding bill by instalments: before or after 1 April 2016?

Can I accept payment of an outstanding bill by instalments: before or after 1 April 2016?This Q&A answers a specific question: does an agreement to...
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15th Aug
Q&As

Am I allowed to pay or receive a commission under anti-bribery legislation?

Am I allowed to pay or receive a commission under anti-bribery legislation?Please note, this Q&A only considers UK bribery legislation.Payment of...
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15th Aug
Q&As

What do I have to do on complaints to comply with the Consumer ADR Regulations 2015?

What do I have to do on complaints to comply with the Consumer ADR Regulations 2015?Brexit: The ODR platform will still be accessible to UK consumers...
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15th Aug
Q&As

Do I have to update client due diligence (CDD) documentation when it expires, eg a copy passport, for AML purposes?

Do I have to update client due diligence (CDD) documentation when it expires, eg a copy passport, for AML purposes?STOP PRESS: Draft Legal Sector...
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15th Aug
Q&As

Can I amend the model cancellation form?

Can I amend the model cancellation form?The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 apply if you enter...
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15th Aug
Q&As

Do I have to establish the source of funds for every transaction?

Do I have to establish the source of funds for every transaction?STOP PRESS: Draft Legal Sector Affinity Group (LSAG) AML guidance was published on 20...
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15th Aug
Q&As

What is the absolute time limit for responding to a subject access request under DPA 1998 [Archived]

What is the absolute time limit for responding to a subject access request under DPA 1998 [Archived]This Q&A has been archived and is not maintained....
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15th Aug
Q&As

Do we need FCA authorisation to provide independent legal advice to a client in relation only to a consumer credit, litigation funding agreement between that client and another law firm?

Do we need FCA authorisation to provide independent legal advice to a client in relation only to a consumer credit, litigation funding agreement...
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15th Aug
Q&As

How can we be sure we can accept instructions from a country where we suspect sanctions apply (to the country itself), if our online sanctions checking system only looks for sanctioned individuals or entities?

How can we be sure we can accept instructions from a country where we suspect sanctions apply (to the country itself), if our online sanctions...
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15th Aug
Q&As

Does the prohibition on unsolicited telephone calls advertising claims management services (Privacy and Electronic Communications (EC) Directive Regulations 2003, SI 2003/2426) apply to law firms?

Does the prohibition on unsolicited telephone calls advertising claims management services (Privacy and Electronic Communications (EC) Directive...
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15th Aug
Q&As

Why does the Precedent: CDD matter risk assessment form—law firms include low risk factors that appear to relate to financial services?

Why does the Precedent: CDD matter risk assessment form—law firms include low risk factors that appear to relate to financial services?Section 5.1 of...
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15th Aug
Q&As

Is it considered as tipping off if a law firm tells its client that it has informed Companies House about a discrepancy in beneficial ownership information?

Is it considered as tipping off if a law firm tells its client that it has informed Companies House about a discrepancy in beneficial ownership...
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Produced in partnership with Peter Steel of Augury Consulting Limited 15th Aug
Q&As

What is third-country risk in relation to AML and how do I assess it?

What is third-country risk in relation to AML and how do I assess it?STOP PRESS: Draft Legal Sector Affinity Group (LSAG) AML guidance was published...
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15th Aug
Q&As

We are representing clients in the sale of business assets. The purchaser representatives have legal knowledge, but do not appear to be solicitors (or similar). What are the compliance implications, other than the restriction on unqualified persons conducting reserved legal activities?

We are representing clients in the sale of business assets. The purchaser representatives have legal knowledge, but do not appear to be solicitors (or...
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15th Aug
Q&As

If a client has conducted an activity abroad that would be considered illegal abroad but would be legal in the UK, would any resulting property be criminal property under POCA 2002, and are there any other laws that would make it criminal to bring that property into the UK and for a legal professional to ‘handle’ the money?

If a client has conducted an activity abroad that would be considered illegal abroad but would be legal in the UK, would any resulting property be...
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Produced in partnership with Peter Steel of Bevan Brittan LLP 15th Aug
Q&As

Do I need to do anything about the client notification requirements in the International Tax Compliance (Client Notification) Regulations 2016?

Do I need to do anything about the client notification requirements in the International Tax Compliance (Client Notification) Regulations 2016?The...
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15th Aug
Q&As

In light of the Purrunsing v A'Court & Co case, a number of buyer's solicitors are now asking for confirmation that the seller’s solicitors have carried out the necessary checks to confirm that the seller client is the registered owner or are asking the seller’s solicitors to confirm they have undertaken the necessary AML checks. Is this interpretation of the case correct?

In light of the Purrunsing v A'Court & Co case, a number of buyer's solicitors are now asking for confirmation that the seller’s solicitors have...
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Produced in partnership with David Sawtell of 39 Essex Chambers 15th Aug
Q&As

What does Brexit mean for financial sanctions?

What does Brexit mean for financial sanctions?The UK has left the EU on the basis of the Withdrawal Agreement as implemented in the European Union...
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15th Aug
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Q&As

Who can certify identification documents (passports, driving license, utility bills, etc) and what is the precise wording that ought to be used?

Who can certify identification documents (passports, driving license, utility bills, etc) and what is the precise wording that ought to be...
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15th Aug

Popular documents

Form of transfer of shares

Form of transfer of shares

Form of transfer of sharesThere are a number of circumstances in which shares in a company may be transferred, eg upon a sale of the shares, through the transmission of the shares by operation of law (eg upon the death or bankruptcy of a shareholder), by gift or upon the enforcement of a charge. For

Liquidated damages in construction contracts

Liquidated damages in construction contracts

Liquidated damages in construction contractsThis Practice Note explains what liquidated and ascertained damages (LADs/LDs) are and their purpose in a building contract. It considers the difference between liquidated damages and general (or unliquidated) damages and looks at the enforceability of

Mediation—advantages and disadvantages

Mediation—advantages and disadvantages

Mediation—advantages and disadvantagesWhat is mediation?Mediation is one of the most recognised and common forms of alternative dispute resolution (ADR).It is a form of assisted ADR in the sense that there is a third-party neutral involved who meets with the parties and seeks to help them in

Dawn raid—who can raid my organisation and why?

Dawn raid—who can raid my organisation and why?

Dawn raid—who can raid my organisation and why?IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional