Do you know your breaches?

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1 September 2014


Determining what a breach is, and whether it is material or non-material, is still causing problems for firms, which is probably why we had over 500 firms register for Part 2 of our series of breach webinars, which we held last Friday; we had 240 registrations for the first webinar.

The webinar not only gave an overview of the breach recording and reporting obligations, but also a series of breach case studies from real-life scenarios, including ones involving referral arrangements, client account failures, own-conflicts, missing key dates, discrimination, complaints, failing to carry out file audits, and anti-money laundering failures.

The webinars have clearly hit the right note from some of the feedback we received:

“Many thanks for your webinar today.  These webinars have been so useful for making me think about which areas of the Code apply to the case studies you present, as well as about materiality.

With each case study today I decided before you told us whether I thought the breaches were material or not, and am happy to report that I got them all right.   This gives me a degree of confidence about my ability to judge materiality.   I also know that if I get stuck, I can approach you for help.”

Kate Desbottes, Principal, Desbottes & Co

“Firstly may I please say a huge thank you to Riliance and more specifically Brian Rogers, he is a Saint. The webinars are priceless. My partner and I own a small High Street firm and almost rely on the webinars for the guidance we so desperately need and without Riliance we do not know where we would be and the webinar today was absolutely phenomenal.”

Clare Taman, Managing Partner, Sanders & Co

One surprise for attendees was that by attending the webinar they could be the first to receive a copy of our new AML “Red Flag” poster; with the SRA looking very closely at AML matters within firms, having a wall poster showing what staff should be looking out for will be invaluable.

If you would like to attend the next breach webinar or watch the previous two breach webinars please email us at clientservices@riliance.co.uk.

If you would like to register for our monthly compliance update webinars please go to http://legalcomplianceofficer.com

Author: Brian Rogers, Director of Regulation & Compliance Services



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