Compliance failure policy 2011 [Archived]
Compliance failure policy 2011 [Archived]

The following Practice Compliance precedent provides comprehensive and up to date legal information covering:

  • Compliance failure policy 2011 [Archived]

    1. 1

      Introduction

      1. 1.1

        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.

      1. 1.2

        Failure to comply with regulatory requirements can have the following consequences:

        1. 1.2.1

          clients may not receive the level of service that they are entitled to expect, which may result in complaints or negligence claims

        1. 1.2.2

          our reputation could be damaged

        1. 1.2.3

          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

        1. 1.2.4

          the firm or individuals within the firm could be exposed to criminal prosecution

      1. 1.3

        We have always taken compliance extremely seriously and will continue to do so.

    1. 2

      Compliance officers

      1. 2.1

        Title and identity

        1. 2.1.1

          Central to this policy is the appointment of our:

          1. (a)

            compliance officer for legal practice (COLP) and

          1. (b)

            compliance officer for finance and administration (COFA)

        1. 2.1.2

          These are collectively known as our compliance officers.

        1. 2.1.3

          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

      1. 2.2

        Areas of responsibility

        1. 2.2.1

          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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