Risk management

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Practice notes
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
Practice notes
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]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Brexit—exiting the EU under Article 50 [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note contains...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
Practice notes
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
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
Practice notes
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
Practice notes
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
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 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
Practice notes
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 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 2019The protection of confidential information is a fundamental feature of the solicitor-client relationship...
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19th May
Practice notes
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
Precedents
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
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

Most recent Risk management content

Practice notes
Identifying and evaluating risk across the businessLawyers generally have a reputation among business people for being risk averse. In-house lawyers...
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1st Aug
Precedents
Risk registerPlease click for the Precedent risk register.Please note that this register has been prepared in Excel and it therefore cannot be...
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31st Jul
Q&As
It's the holiday season, how can I ensure compliance with risk management requirements when using locums?From time-to-time (particularly during the...
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31st Jul
Practice notes
Coronavirus (COVID-19)—guidance for law firms [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note...
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31st Jul
Practice notes
Formulating a risk management policyA risk management policy outlines the risks posed to a business and provides a set of actions to be taken to both...
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31st Jul
Practice notes
Protecting your practice—an introduction to law firm risk managementRisk management is a cornerstone of a firm's governance, culture and business...
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Produced in partnership with Pam Grover-Mitchell 31st Jul
Practice notes
The risk management policy—regulatory requirementsThere is a widely accepted definition of risk, ie:Risk = probability x impactSo, for any given risk...
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31st Jul
Practice notes
Key risks—law firmsOur practice note: Formulating a risk management policy sets out how you might do this. This practice note identifies some common...
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31st Jul
Precedents
Risk management policy—annual reviewA: General informationDate of reviewPerson(s) conducting reviewB: Review and findingsAre your risk management...
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31st Jul
Precedents
Risk management training aid—post-training assessment questionsHow to use this testThese questions are designed to test your understanding after your...
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31st Jul
Precedents
Risk management training aid—post-training assessment answersQuestionCorrect answer1. What is a risk? (c) The possibility of an adverse/unwelcome...
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31st Jul
Precedents
Risk management policy—law firms1Introduction1.1Risk management is central to the regulatory regime under which we operate. [Insert name of firm] is...
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31st Jul
Precedents
Training materials—risk managementThe purpose of our presentation is to train your staff on your risk management policy and to communicate risk...
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30th Jul
Precedents
Risk data—annual review1General informationReview period[Insert review period]Date of review[Insert date]Person(s) conducting review[Insert...
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30th Jul
Precedents
Risk register—annual reviewA: General informationDate of review[insert date]Person(s) conducting review[insert name]B: Review and findingsIs your Risk...
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30th Jul
Precedents
Risk manager role profileName of firmName of role holderReports toRole type☐ Full-time☐ Part-time☐ ContractorIf a contractor role, length of...
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Produced in partnership with Pam Grover-Mitchell 30th Jul
Practice notes
Formulating a risk registerManaging risk is not a one-off event, it is an ongoing process, as illustrated below:This Practice Note provides guidance...
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6th Jun
Precedents
Please complete and email this form to the [[insert details of person nominated to receive risk reports]].If you wish to make an anonymous report, you...
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22nd Mar
Precedents
Risk scorecard (matrix)Probability ratingScoreLikelihood of risk materialisingBenchmark1Very lowOnly expected to occur in exceptional circumstances[Up...
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19th Mar
Precedents
The purpose of this questionnaire is to identify potential business risks. Please spend no more than [insert time eg 30 minutes] completing this form...
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19th Mar

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