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Conveycentric welcomes regulator’s statement on risk management tools

Conveycentric comments on the recent statement released by CLC on the benefit of risk management tools.

June 12th, 2013 | No Comments »

Legal Eye

Legal Eye is a leading provider of best practice, risk management and compliance services to the legal services market. We specialise in: Best Practice Risk Management Compliance Lexcel Accreditation CQS Applications Completion of tender responses to win new work TCF (Treating Customers Fairly) programmes / training Training Legal Eye also offers the Legal Eye Quality […]

January 26th, 2013 | Comments Off on Legal Eye

Law Society takes equity stake in compliance software business

The Law Society has taken the unusual step of investing in a company set up by a non-lawyer law firm partner to sell a groundbreaking web-based risk and compliance software package for solicitors.

October 10th, 2012 | No Comments »

No place left to hide

The introduction of the new SRA Handbook on 6 October 2011, and the creation of compliance officers, was the first tangible wave of a further tightening of audit and control procedures among law firms. The regime seeks to create a framework for solicitors to adopt risk management and control processes that should, frankly, already be well established for the majority. It’s pleasing no doubt that the vast majority therefore complied and registered nominated solicitors and finance directors to pick up the compliance officer chalice. Yet, a staggering 800 had not registered on expiry of the deadline – do these really believe that the regime will not flex its muscles and that by ignoring this, they will remain hidden?

October 9th, 2012 | 1 Comment »

Do you know how much your professional indemnity insurance costs?

When I’m out meeting new firms, writes John Thomas of LawNet, all too often when I ask managing partners about the cost of their PII, they do not know. Not many can tell me to the nearest £10,000 and some have no idea at all, having devolved responsibility to the ‘insurance partner’. But is this acceptable in a world of change and challenge, and constant pressure on costs?

August 9th, 2012 | No Comments »

And the gold medal goes to…

Comparisons between the 2012 Olympics and the compliance officer for legal practice (COLP) nomination process are more obvious than you might think: both were years in the preparation, shrouded in mystery, beset by operational PR disasters and, ultimately, over in a flash. This month’s blog brings you live coverage of the five-month dash: that’s how long your COLP has to get the firm’s house in order before they become responsible for compliance. Like bog-snorkelling and extreme ironing, the five-month dash is a niche sport, unlikely to grace the Olympics, but pundits are predicting there’ll be a least 11,000 participants by the end of the year.

August 1st, 2012 | No Comments »

Mid-tier firms spending more on risk and compliance for the least return, says broker

Mid-tier law firms are over-engineering their risk management and compliance functions, spending more than both bigger and smaller practices for far less return, new research from Lockton has claimed.

March 20th, 2012 | No Comments »

City firm to license out matter risk management system that saves it £600k a year in PII premiums

A City law firm is to license out to other practices a matter risk management system that has helped eliminate claims against the firm in recent times and saved around £600,000 a year in professional indemnity insurance premiums.

March 12th, 2012 | Comments Off on City firm to license out matter risk management system that saves it £600k a year in PII premiums

News round-up: barrister jailed for chambers theft, another mySRA extension, and much more

Our latest news round-up reports on a barrister jailed after stealing £72,500 from his chambers, more problems with the SRA’s online PC renewal system, surveys on fixed fees and compliance, and the appeal court upholding a ruling against a firm innocently caught up in mortgage fraud.

February 13th, 2012 | Comments Off on News round-up: barrister jailed for chambers theft, another mySRA extension, and much more

Law firm partner launches risk and compliance product to help COLPs

A non-lawyer partner at a Manchester law firm has developed what is claimed to be the first web-based risk and compliance software for the legal market and aims to reduce the burden on the compliance officers every law firm has to have under outcomes-focused regulation.

September 28th, 2011 | No Comments »