A business continuity plan (BCP) is a written strategy for continuing the firm’s business in the event of a business interruption event.
This subtopic:
covers the regulatory requirements that must be complied with when preparing a BCP, and
provides guidance on formulating a BCP
The Lexcel Practice Management Standard imposes certain requirements in relation to business continuity planning. These should be considered compulsory for firms or in-house legal teams that have or are working towards Lexcel accreditation; they are not compulsory for others although they provide an indicator of good practice.
Lexcel requires firms to have a BCP that must include:
an evaluation of potential risks that could lead to business interruption
ways to reduce, avoid and/or transfer the risks
key people relevant to the implementation of the plan
a procedure to test the plan annually, to verify that it would be effective in the event of a business interruption
See further Practice Note: Lexcel practice management standard v6.1—Precedents...
To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.
**Trials are provided to all LexisNexis content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisNexis services please email customer service via our online form. Free trials are only available to individuals based in the UK, Ireland and selected UK overseas territories and Caribbean countries. 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.
The Ministry of Justice (MoJ) has published its ‘Counter Fraud Strategy 2026–2030’, setting out its approach to preventing, detecting and responding...
The Legal Services Board (LSB) has approved in full the Law Society of England and Wales and Solicitors Regulation Authority’s (SRA) application for...
This week's edition of Risk and Compliance weekly highlights includes new ICO guidance on anonymisation, pseudonymisation and research and significant...
The Joint Money Laundering Steering Group (JMLSG) has published final amendments to Part I of its guidance, revising Paragraphs 2.9, 5.2.4A, 5.3.94A,...
Priority between loss reliefs in loss making companiesWhy does it matter?A company that is a member of a group and has incurred any of the types of losses available for surrender by way of group relief may, without any further rules, have more than one way in which to use the loss. There are a
If a rentcharge is shown as being informally exonerated on title information, does this apply to the current registered owner? Or does the informal exoneration only apply to the parties to the document which informally exonerated the rentcharge?This Q&A considers the situation where, at some point
Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid
Contributory negligence in personal injury claimsContributory negligence is a partial defence which can lead to a discount in damages.Other defences may also be relevant. See Practice Notes: Did the claimant consent to the risk of injury? and Was the claimant involved in an illegal activity?If a
0330 161 1234