- Legal Futures - https://www.legalfutures.co.uk -

LexisNexis releases solution to assist compliance with new SRA rules

Legal Futures Associate LexisNexis UK [1], a leading provider of content and technology solutions, today announced the next release of LexisPSL Practice Compliance as part of a series of leading practice support solutions.

On 6 October 2011, the Solicitors Regulatory Authority (SRA) made fundamental changes to the way law firms are regulated. LexisPSL Practice Compliance helps guide firms through this outcomes-focused regulation, the new SRA Handbook and other regulatory requirements.   

Allison Wooddisse, solicitor and head of practice compliance at LexisNexis, said: “Given that the SRA Handbook runs more than 500 pages, keeping up with compliance and other regulatory requirements can prove a headache for firms. Fee-earning time is under increasing pressure, not helped by the recession and the new threat of competition from alternative business structures.”

Ms Wooddisse added: “LexisPSL Practice Compliance delivers practical guidance on how law firms should comply with the regulation. It covers key new requirements in the SRA Handbook plus a raft of general regulations that apply to law firms, such as anti-money laundering. Easy-to-use templates, precedents, policies and checklists are supported by guidance notes to help firms focus on earning fees or managing their business, while reducing the risk of failure to comply.”