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 business. Some of these requirements are imposed by the 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.
Title and identity
Central to this policy is the appointment of our:
compliance officer for legal practice (COLP) and
compliance officer for finance and administration (COFA)
These are collectively known as our compliance officers.
The current compliance officers and their deputies are listed in Appendix 1. This may be updated from time to time; if so, we will ensure staff are notified of any changes
Areas of responsibility
Between them, the COLP and the COFA are responsible for all aspects of compliance, although the day-to-day management of particular aspects may be delegated. Their particular areas of responsibility are set
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