Risk and Compliance Service

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

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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SRA regulatory reform - have your say

15 May 2015

If you are a COLP, COFA, MLRO or have compliance responsibilities the SRA would like to hear from you.

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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

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Nominations now open: Excellence in Client Service

6 May 2015

This award celebrates commitment and service in client care.  Nominations close on 5 June 2015

PII news April 2015

30 April 2015Updated: 26 June 2015

Recent PII news and updates.

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

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

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    ABS case study: BTSubscription

    1 July 2015

    BT’s legal team became an ABS in March 2013. Chief counsel Archana Makol, in conversation with Grania Langdon-Down, explains why they made the decision, and the new subsidiary’s strategy.

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    Information security – constant vigilance is essentialSubscription

    1 July 2015

    The  government’s 2015  Information Security Breaches Survey  has just been published. One of its most striking findings is that the average cost of the worst single breach suffered by respondents has risen sharply. It now stands at £1.46m - £3.14m for large organisations (more than 250 employees) and for medium and small businesses (1-249 employees) at £75k - £311k.

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    Changes to client care information and Legal Ombudsman time limit: an update on the EU alternative dispute resolution (ADR) DirectiveSubscription

    1 July 2015

    The EU ADR Directive is a piece of European legislation designed to improve consumers’ access to good quality ADR schemes (including ombudsmen) when they purchase goods or services from a trader (including solicitors).

  • Listen upSubscription

    29 May 2015Updated: 26 June 2015

    Tracey Calvert looks at how good complaints-handling can help you make continuous improvements to your business, and how you can achieve this in practice.

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

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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

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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

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