Risk and Compliance Service

Welcome to the Risk and Compliance Service - the Law Society's service for people who manage compliance

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Save the date: Law Society's risk and compliance annual conference

16 September 2015

Our annual conference will take place on 14 April 2016 at the Law Society, Chancery Lane.

Practice notes

New practice notes

14 July 2015

The Law Society have recently published a number of key practice notes for our members to read.

SRA debate on financial protections

14 July 2015

The Solicitors Regulation Authority (SRA) have published a discussion paper this week as part of their continued efforts to review and reform client financial protection arrangements.

Fourth EU Money Laundering Directive agreed

29 May 2015Updated: 26 June 2015

Two years have passed since the EU Commission published the original version of the Fourth Money Laundering Directive (4MLD) and the various parties to the legislative process have now finally reached agreement on the text.

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Legal Services Board: Tell us your experience of the legal services regulators

15 May 2015

The LSB has launched a survey inviting views from anybody and any firm that has been in contact with one of the eight legal services regulators in England and Wales, including the SRA

Consumer credit update

30 April 2015Updated: 26 June 2015

Readers will be aware that solicitors do not need to be separately regulated when undertaking work involving consumer credit, because the Law Society - through the SRA - held a group licence from the Office of Fair Trading(OFT) to undertake this regulation.

More news from the Risk and Compliance Service

Denotes premium member-only content. Existing members just need to register using the link above to gain access. Please note you must use the email address associated with your membership.

We commission articles, guidance and best practice insight to help you manage regulatory and compliance issues

  • Practice management

    Tracking client fundsSubscription

    30 September 2015

    We had a case recently where the client seemed perfectly genuine, was moving from Scotland to South East and sold his property. We had confirmation by email (do we ever trust them these days?) from his solicitor in Scotland confirming sale proceeds. Do we have to see his bank statements to see money arriving and coming from that account to us?

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    Does my PII cover Legal Ombudsman compensation awards?Subscription

    30 September 2015

    The Legal Ombudsman (LeO) has the power to award compensation up to £50,000. I am concerned about how my firm would pay such a large amount if awarded. Will the firm’s professional indemnity insurance (PII) cover any such award?

  • Practice management

    Are you playing at compliance?Subscription

    30 September 2015

    The roles of Compliance Officer for Legal Practice (COLP) and Finance and Administration (COFA) have been with us for nearly three years, yet evidence shows that many have still to meet the obligations they have under the Practising Regulations 2011.  

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    A tangled webSubscription

    30 September 2015

    It has been said that there are two types of firms: those that know they have been attacked by cybercriminals, and those that don’t yet know. Francis Dingwall looks at how to prevent attacks, and how to mitigate them when they do happen.

Other features from the Risk and Compliance Service

Exclusive sample features

Here are some sample articles from the Risk and Compliance Service. Service members get access to all our features and other exclusive content.

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Facing a compliance quandary?

The Law Society’s Practice Advice Service answers some frequently asked questions on AML, due diligence, and professional negligence

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Continuing professional development - what now?

We round up the changes to the SRA’s CPD scheme, how it could affect your firm, and what you need to do now if you want to move to the new scheme or continue with the current one


Participation offence targets those who assist organised crime groups

As part of the Home Office’s campaign to raise awareness around solicitors being used to assist organised crime groups, Karen Bradley, MP, minister for modern slavery and organised crime, outlines the impact of a new offence of participation in organised crime groups’ criminal activities.

Webinars for Risk and Compliance members

Risk and Compliance Service members get access to free and discounted webinars and events throughout the year.

Compliance for support staff

This practical webinar is designed to provide support staff with a reminder/overview of the key issues they need to be aware of in a practical and commercial way. Free to Risk and Compliance section members. 

In-house lawyers: must I have a relationship with the SRA?

This webinar forms part of the Law Society Risk and Compliance Section’s annual webinar programme (free to Risk and Compliance section members).

Offering and taking equity - a case study

Promotion to partner is a massive step for all concerned. It is a big decision both for the partnership and also for the individuals being offered partnership. This webinar will consider the issues from both the perspective of the partnership and the new partner and through the medium of a case study will address the financial and legal aspects.

Further webinars and events

Benefits of Membership*

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  • A monthly Risk and Compliance e-newsletter, dealing with the latest regulatory and compliance issues
  • Access to the Law Society’s 'Safe Harbour' initiative, providing guidance to compliance officers on the materiality of a breach
  • Access to four free webinars

As well as:

  • 20 per cent discount on subscriptions to the Legal Compliance Bulletin
  • 20 per cent discount on relevant Law Society publications

* See Service terms and conditions

Join today

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