The following Practice Compliance precedent provides comprehensive and up to date legal information covering:
This document sets out our policy for dealing with breaches of regulatory requirements that apply to our firm. Some of these requirements are imposed by the Solicitors Regulation Authority (SRA), others apply to all businesses.
Failure to comply with regulatory requirements can have the following consequences:
clients may not receive the level of service that they are entitled to expect, which may result in complaints or negligence claims;
our reputation could be damaged;
the firm or individuals within the firm could be disciplined by the SRA or another regulator, which could lead to fines, disqualification or other sanctions;
the firm or individuals within the firm could be exposed to criminal prosecution.
We have always taken compliance extremely seriously and will continue to do so. The firm’s policies and procedures are designed to ensure we comply with our regulatory obligations. All staff are required to read and comply with them. A full list of our compliance policies and procedures can be found at [Appendix 1 OR [insert link to relevant page of intranet]the firm’s Staff Handbook OR .
We have appointed a compliance officer for legal practice (COLP) and a compliance officer for finance and administration (COFA)[, together with deputies].
The COLP and the COFA are responsible for implementing and monitoring compliance policies and procedures across the firm, although the day-to-day
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international perspective and includes some comparative examples from other
When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to insurers: the Conduct of Business Sourcebook (COBS) and the Insurance Conduct of Business Sourcebook (ICOBS). This Practice Note considers how these
The roles of nominated officer and money laundering reporting officerA nominated officer is an individual who is nominated by a firm to receive disclosures under Part 7 of the Proceeds of Crime Act 2002 (POCA 2002) or Part III of the Terrorism Act 2000 (TA 2000)—see Requirement to appoint a
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.