Regulation & Compliance Office
Regulatory Compliance & Risk Management for Law Firms and Regulated Businesses
Supporting law firms and regulated businesses across the SRA, CLC, Law Society of Scotland, HMRC (AML), FCA and ICAEW frameworks. RACO delivers structured compliance management, risk oversight and regulatory consultancy. We provide ongoing operational support, working alongside your leadership team to implement proportionate, regulator-aligned systems that protect your business and demonstrate control.
Select Your Regulator below to get started
We provide tailored compliance and risk management services aligned to specific regulatory frameworks.
Solicitors Regulation Authority
(SRA)
Council for Licensed Conveyancers
(CLC)
Law Society of Scotland
(LSS)
HMRC
(AML Supervision)
Financial Conduct Authority
(FCA)
Institute of Chartered Accountants in England & Wales
(ICAEW)
Specialist Compliance Consultants
Regulation & Compliance Office (RACO) is a specialist compliance consultancy supporting law firms and regulated businesses to meet their regulatory obligations with confidence.
We work primarily with law firms regulated by the SRA, CLC and Law Society of Scotland, while also supporting businesses regulated by HMRC (AML), the FCA and ICAEW.
Our role is not to provide generic advice or software platforms. We deliver structured, ongoing compliance management delivered by experienced professionals who integrate with your firm.
We ensure:
- Clear, documented Policies, Controls and Procedures
- Effective risk management frameworks
- Ongoing monitoring and reporting
- Independent audit and oversight
- Direct access to compliance expertise when issues arise
Our approach is proportionate, practical and regulator-aligned. We implement systems that work in practice and stand up to scrutiny.
Regulator Overview
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Our Services
Across all regulators, we provide a consistent, structured and proportionate approach to compliance:
Compliance Framework Implementation
Establishing and maintaining Policies, Controls and Procedures aligned to your regulatory obligations.
This includes documentation aligned to SRA Standards and Regulations, AML and CTF requirements, sanctions compliance, GDPR and data protection, and broader risk management obligations.
Ongoing Compliance Management
Outsourced or supported compliance management, including register administration, monitoring and reporting.
Risk & AML Management
Firm-wide risk assessments, AML frameworks and regulatory reporting support.
Independent Audit & File Review
Annual audits, file reviews and corrective action oversight to demonstrate effective control.
Regulatory Consultancy
Guidance on reportable issues, regulatory investigations, and complex compliance matters.
Ongoing advisory support
Subscribers have access to a dedicated helpline for regulatory and compliance queries as they arise, together with regular briefings and newsletters outlining relevant legislative and regulatory developments.
Whether you require a structured annual framework or full operational compliance management, our services are scalable to your firm’s size and regulatory exposure.
Why firms choose RACO
Specialist Legal Sector Expertise
Over 90% of our work is within the legal sector. We understand the operational realities of regulated legal practice.
Human-Led Compliance Management
We are not a software provider. Our clients have direct access to experienced compliance professionals.
Ongoing Operational Support
We provide day-to-day compliance management, not one-off advice.
Proportionate and Practical Implementation
Our systems are designed to work within your business, not disrupt it.
Evidence-Led Compliance
We help firms demonstrate to regulators that robust systems are in place and actively monitored.
Talk to our Compliance Experts today…
…to find out how RACO can assist your firm
Enquire Today
Who we work with
We support:
Whether compliance is a dedicated internal function or part of a wider leadership role, we provide the structure and support required.
Law Firm Compliance Specialists
While we support a range of regulated sectors, our core specialism remains law firm compliance.
We work closely with managing partners, COLPs, COFAs, MLROs and practice managers to implement and maintain compliant environments aligned to SRA, CLC and Scottish regulatory expectations.
Our experience spans sole practitioners to multi-national practices, enabling us to deliver proportionate systems tailored to firm size and complexity.
Latest Insights
FCA Says 238,000 Mule Accounts Closed, and It Is Still Not Working
Money Mules: The FCA Says Closing Suspicious Accounts Isn’t Enough The Financial Conduct Authority (FCA) has recently published the findings of its latest multi-firm review on money mules, highlighting some initially impressive figures. Regulated firms closed 238,396 suspected mule accounts in 2025, up from 184,935 in 2023 and 233,269 in…
Money Mules: The FCA Says Closing Suspicious Accounts Isn’t Enough
238,000 Suspected Mule Accounts Closed, and It Is Still Not Working In a recent update, the Financial Conduct Authority (FCA) published findings of its latest multi-firm review on money mules. The initial figures seem impressive: regulated firms closed 238,000 suspected mule accounts in 2025, up from 184,935 in 2023 and…
FCA Warning to Senior Managers: Fitness and Propriety Can Follow You Across Sectors
Understanding Your Obligations – It Is Not Just About Regulatory Breaches Two recent actions by the Financial Conduct Authority (FCA), taken weeks apart, make the same point from very different angles. In the first case, a former law firm owner has been banned from financial services after misappropriating more than…
RACO Compliance Roundup: October 2026
Welcome to the Latest Roundup September proved to be one of the busiest months for regulatory news in recent memory. The SRA has paused the COLP and COFA separation, published a formal warning notice on AI misuse, and updated its Sectoral Risk Assessment. The Budget is approaching with two proposals…
SRA Pauses COLP and COFA Separation: What This Means for Firms
SRA Confirms Pause on COLP and COFA Separation Rules On 30 September, the Solicitors Regulation Authority (SRA) confirmed it is pausing implementation of the COLP and COFA separation rules, which were due to take effect from January 2027. The plans were attracting growing criticism for the regulator’s proposal to prevent…
Client Account Interest and the Upcoming Budget: What Firms Should Be Aware Of
Two Proposals Firms Need to Watch On 28 October 2026, Chancellor of the Exchequer John Healey will deliver the Autumn budget, and with that date fast approaching, two proposals affecting law firms’ finances are in circulation, and both could have a material impact on how firms manage their income. The…
ACSP Registration: Why Accountancy Firms Should Register Now, Whatever the Deadline
The Requirement Is Confirmed, the Date Is Not If your firm files information at Companies House on behalf of clients, you will need to be registered as an Authorised Corporate Service Provider (ACSP). However, while that requirement has been confirmed, the exact date it becomes mandatory has not, and Companies…
FCA Non-Financial Misconduct Rules Now in Force
What Regulated Firms Must Have in Place The FCA’s new rules and guidance on non-financial misconduct came into effect on 1 September 2026. If your firm operates under the Senior Managers and Certification Regime, these changes apply to you now. Non-financial misconduct (NFM) covers behaviour that is not of a…
Complaints as a Risk Signal: What Your Complaints Data Tells the SRA, and Your Firm
Gaining Vital Insights from Client Complaints We have previously written about the regulatory focus on complaints handling, first on the Legal Ombudsman’s proposed reforms and then on the SRA’s supplementary consultation on first-tier complaints. Both articles focused on what the rules are changing and the heightened scrutiny on the way.…
The ICO Becomes the Information Commission on 30 September
What Law Firms Need to Know About ICO Governance Changes On 30 September 2026, the Information Commissioner’s Office will formally become the Information Commission. The change is made under the Data (Use and Access) Act 2025 and marks a shift from the current model, in which statutory powers rest…
Contact Our Team
If you require structured regulatory compliance support, ongoing risk management or independent oversight, our team can advise on the appropriate framework for your organisation.
Call Us
0203 985 8550
Email Us
info@regulationandcomplianceoffice.co.uk
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