Every law firm has a legal duty to comply with the SRA Handbook and a raft of other legislation and regulations. Get it wrong and you personally face investigation, disciplinary action, fines and prosecution (not to mention the damage to your reputation).
LexisPSL Practice Compliance is an online toolkit that makes risk and compliance easier to manage.
It comes with everything you need to ensure your compliance house is always in order. Conflicts, commissions, anti-money laundering, data protection, website management, risk planning, Accounts Rules and governance - just some of the compliance areas covered.
Templates. Create your own compliance plan, processes, policies, registers, forms, risk assessments, letters and more – across 45 different areas.
Toolkits. For your COLP, COFA and MLRO. All the templates they need in one place.
Guidance notes. In plain English. Find out exactly what you need to do, why and how.
Checklists. Check you’ve got everything covered – and spot any gaps – at a glance.
Training. Use our ready-made materials and scripts to train your own people in no time.
Legal accreditations. We can help you get and maintain Lexcel, CQS or SQM accreditation.
Peace of mind. Our in-house lawyers are all Lexcel trained consultants. And everything we do is in line with the SRA Handbook and other relevant regulations.
Early warning. Compliance is constantly evolving. Email alerts keep you up to date with any regulatory changes as soon as they happen – including what (if anything) you need to do. Monthly compliance forecasts help you plan for the future.
Working in partnership with leading firms
We take direction from our Consulting Editorial Board to ensure we consistently deliver relevant practical guidance so that you have the confidence to make more informed decisions, based on sound, practical advice.
Meet the practice compliance team who have developed LexisPSL Practice Compliance.
LexisPSL Practice Compliance is everything you’ll ever need to get your compliance house in order and keep it in order.
The module currently has over 200 guidance notes covering 45 different areas of compliance. These are supported by a comprehensive suite of ready-made templates of policies, registers, forms, training aids, risk assessments, client-facing documents and checklists that will assist you with gap analysis.
All of our documents are checked regularly to identify any amendments or additional material required to respond to new regulations, legislation, case law or guidance. This means you can be sure that you always have access to the most up to date material.
Topics covered include:
- The regulatory regime – who are the new regulatory bodies and what are their powers / what is outcomes-focused regulation / how will firm-based regulation impact on firms / what steps should firms take to ensure they are properly authorised by the SRA
- Governance and supervision – why is governance important / governance structures / governance arrangements / regulatory requirements for supervision / drafting a supervision policy
- Business management – drafting a compliance plan / business planning and strategy / outsourcing and the SRA / equality and diversity / whistleblowing / legal accreditations
- Financial management - financial management policy / monitoring financial risk and stability / budgeting
- SRA Accounts Rules –payment of interest / residual balances / receipt and transfer of costs
- Risk management –the risk register / negligence and professional indemnity insurance / business continuity planning
- Information and data management – data protection / social media / bring your own device policy / website management
- New clients – preliminary checks / receiving referrals and fee sharing / commissions and financial benefits / limiting liability
- Money laundering and criminal sanctions – anti-money laundering and counter terrorist financing / avoiding bribery and corruption / prevention of terrorism / privilege / sanctions
- Client care – client care letters and terms of business / client feedback / information on costs
- Complaints - SRA and Legal Ombudsman’s NEW complaints requirements / sample policy and client facing documents
- Third parties – referral and fee sharing requirements / commissions and financial benefits / undertakings / introductions to third parties
- Conflicts, confidentiality and disclosure – conflicts of interest / confidentiality and disclosure
This is just a selection of the compliance topics covered within LexisPSL Practice Compliance – and new subtopics and content will continue to be added. This is without doubt the most comprehensive compliance service around!
In addition to access to the ‘what’, the ‘why’ and the ‘how’ information you need we will help you stay abreast of changes and updates to the SRA Handbook, and to any broader regulations relevant to compliance, via daily or weekly email alerts and news analysis updates. To help you plan ahead, our monthly compliance forecast practice notes keep you up to date with forthcoming changes to assist you with horizon planning.
Compliance Crash Course
Watch our WebEx recording of Allison Wooddisse, head of Practice Compliance explaining your obligations under the new SRA Handbook and the practical steps you should take to comply.
Cordery Compliance Services
Find out more about our complete series of compliance services at www.corderycompliance.co.uk
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Our monthly COLP Reports
- March 2013 COLP Report – CFA Special
- January 2013 COLP Report – Job Description Cheat Sheet
- November 2012 COLP Report – PI Referral Fee Ban Special
- October 2012 COLP Report – AML Special
- September 2012 COLP Report – Get ready for compliance failure reporting
- July/August 2012 COLP Report – The top 6 compliance challenges
- June 2012 COLP Report – Alert! COLP nomination process
- May 2012 COLP Report – Do you need a job description?
- April 2012 COLP Report – The Governance mystery
- March 2012 COLP Report – The Great Compliance Plan Hoax?
- February 2012 COLP Report – Top tips on indemnifying your COLP
- January 2012 COLP Report – Compliance officers coming your way