Armstrong: compliance will be our heart and soul

LexisNexis UK has been licensed by the Solicitors Regulation Authority as an alternative business structure (ABS) to launch a compliance business combining content, technology and advisory services.

Cordery Compliance Ltd – though named after the leading textbook on the law and practice relating to solicitors – is targeted at compliance professionals and general counsel across all industries, not just the law.

Jonathan Armstrong, a partner in the London office of US law firm Duane Morris specialising in compliance and technology law, has been hired to lead the business and the team of advisers.

Andy Sparks, head of enterprise solutions at LexisNexis UK and a Cordery director, described compliance as a “big and growing market”, and that Cordery’s offering would stand out against the other information providers, technology companies, lawyers and accountants that sought to service it.

Having ABS status provided “a badge, quality assurance, confidentiality and particularly privilege”, he explained.

Mr Armstrong added: “For the past 20 years, I have advised heads of legal, general counsel and compliance professionals in dealing with the challenges of navigating ever more complex regulatory requirements. For in-house lawyers particularly, dealing with compliance is often a lonely experience. Compliance will be our heart and soul and we will help our clients effectively manage the compliance burden.”

Christian Fleck, managing director for LexisNexis UK & Ireland, said: “Legal and regulatory information has been our lifeblood for nearly 200 years. Driven by the ever increasing regulatory burden, we have had great success with practical compliance solutions in the last couple of years. With Cordery, we are taking the next step and we are looking forward to providing a wider solution to compliance professionals across industries.”

The move by one of the world’s leading legal information providers to set up an ABS is likely to cause some waves. In 2010, Professor Richard Susskind predicted that law firms could find themselves competing with legal publishers, some which he described as the biggest legal businesses in the world. Shortly afterwards, ThomsonReuters bought legal process outsourcer Pangea3.

Tags:


Leave a Comment

By clicking Submit you consent to Legal Futures storing your personal data and confirm you have read our Privacy Policy and section 5 of our Terms & Conditions which deals with user-generated content. All comments will be moderated before posting.

Required fields are marked *
Email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Reports

No larger firm can ignore the demands of innovation – that was the clear message from our most recent roundtable: “The law firm of the future”, sponsored by LexisNexis Enterprise Solutions. It comes in many forms, predominantly but not just technology, and is not simply a case of automating process. Expertise and process are not mutually exclusive.

Blog

20 July 2018

Have you lost control of your law firm’s online narrative?

The ability to build trust and establish authority from the outset of a relationship with a new or prospective client is of key importance for lawyers and law firms.

Read More