By Legal Futures’ Associates Quill
Reflecting on the past four months, there have been fairly monumental changes in the legal sector. Beginning on 25th November with the revised SRA Accounts Rules; ending with the 5th AML Directive on 10th January followed by two months’ grace to get your operations shipshape.
Some firms, arguably, are still struggling with the practical implications of these reforms. Yet staying on the right side of the various enforcement policies is absolutely essential, not only from a regulatory compliance perspective but also from the point of view of sufficiently safeguarding against risks.
Where money laundering and cyber crime are concerned, addressed by these two legislative rules, the threats are substantial and the consequences of mistakes – or simply, lack of due diligence – can make-or-break your business. After all, it’s compliance that keeps your doors open. But complying is no small task.
At Quill, we offer a multitude of pick ‘n’ mix solutions which greatly aid conformance and compliance of these and other governing guidelines. Our Interactive complete practice management software is the foundation for everything. With Interactive you get state-of-the-art technology, and ISO 27001-standard and Cyber Essentials-accredited data centres to protect your valuable data and provide a fully resilient set up.
For legal accounting, Interactive contains all manner of compliance-assistance features such as system warnings for incorrect accounts entries, anomaly reports highlighting errors for rectification and breach reports for submission to the relevant authority. For even more compliance assurance, there’s our Pinpoint outsourced legal cashiering service designed to comply with the latest industry regulations.
Plus, as part of the case management matter set-up process, it’s easy to undertake duplicate, conflict, anti-money laundering and credit checks. These screening procedures ensure clients’ identities are legitimate and they have the funds to pay for legal services.
But there’s much more to Interactive than this. We’re exhibiting at the upcoming Legal Futures Compliance & Regulation Conference on 11th March. Visit us on stand number 2, right next to the main entrance, for a no-obligation walk-through of Interactive. See you next week!