SRA regulation
"I gained a lot from our meeting - not just chapter and verse on the regulatory questions in hand but how to impress a client with good preparation, a commitment to understanding and solving problems and great delivery and team work. Well done to Pamela and to you Paul and indeed everyone else I came across in your office - even the gentleman on the door downstairs! I am very hard to impress but you did just that. I look forward to working with you as we hopefully move onto grand things." Managing Partner, Major Regional Law Firm
"Many thanks for your time today - the advice was clear, commercial and succinct." Managing Partner, Major National Law Firm
We provide high quality and independent SRA regulatory compliance reviews, advice and documentation for law firms all over the UK relating to:
- The Solicitors’ Code of Conduct 2007
- The Solicitors’ Financial Services (Scope) Rules 2001
- The Solicitors’ Financial Services (Conduct of Business) Rules 2001
- Legal Services Act 2007
In particular, we advise on:
Business management issues
- Client relations and client care
- Referral arrangements
- Disclosure of personal interests
- Contingency fees
- Insurance mediation
- Competitive tenders for ATE insurance providers
- Commission retention and informed consent
- Business continuity
- SRA visits and investigations
- Legal Disciplinary Practices
Business development issues
- Publicity and marketing initiatives
- Separate businesses
- The use of captives by law firms
Alternative Business Structure issues
- The rules for Alternative Business Structures
- Structural re-organisations
- Funding requirements and opportunities
- Investment due diligence
- Mergers and acquisitions
Tempting as it may be to source regulatory advice internally or from a non-lawyer compliance consultant, our experience has shown that:
- Only by instructing an independent law firm can a business secure legally privileged advice - and avoid the irony of an enforcement action based on a non-privileged compliance report;
- Acting upon independent legal advice can provide a prima facie defence or mitigation in an action for rule breaches;
- You may have little or no recourse if your ‘in-house' adviser or non-lawyer consultant gets things wrong; and
- Often an independent legal opinion helps to secure internal "buy-in" to changes that may be required.
To explore how our distinctive approach could benefit your business, please contact Nigel Wallis on 0151 906 1000 or contact us.
