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
COLP and COFA Split: Growing Pushback from Smaller Firms, But Preparation Should Continue
What Has Happened Since Our Last Article When we published our practical guidance on the COLP and COFA changes in early September, the Legal Services Board (LSB) had just approved the new COLP and COFA changes and the SRA was preparing for phased implementation from January 2027. More recently, opposition…
AML, Accounts and Cooperation Failures – Lessons from Recent SRA Enforcement Cases
Some of the most recent enforcement decisions published by the Solicitors Regulation Authority (SRA) are worth taking notice of. Two came out of anti-money laundering desk-based reviews, and another followed a forensic investigation into a sole practitioner. The financial penalties range in severity from a few thousand to over twenty…
COLP and COFA Changes Approved: Practical Guidance on What Your Firm Needs to Do
The New COLP and COFA Rules Are Now Confirmed The Legal Services Board has approved the SRA’s rule changes separating the roles of COLP and COFA from individuals who hold unilateral decision-making power within a firm. The changes will be implemented on a phased basis starting in January 2027. The…
Employment Law Changes Taking Effect in October 2026: What Your Firm Needs to Do Now
The Second Phase of the Employment Rights Act 2025 In April, we wrote about the employment law changes that required firms to update their employee handbooks. Those changes, covering day one rights to statutory sick pay, paternity leave, and parental bereavement leave, were the first phase of the Employment Rights…
When Your Buyer’s Deposit Comes from Crypto: What Estate Agents Need to Know
Crypto Is No Longer a Niche Risk in Property The 2025 National Risk Assessment states that property transactions appear in almost every money laundering typology and predicate offence, and the property sector overall is assessed as high risk. This is nothing new; estate agents sit at the front of that…
Crypto Assets and the SRA’s Sectoral Risk Assessment: Transaction Risks Firms Must Consider
In an earlier guide, we covered the SRA’s updated Sectoral Risk Assessment and its focus on cybercrime and AI, concentrating on the emerging technology risks the regulator has added in August 2026. However, the same document also restates and sharpens an established risk that too many firms are treating as…
The SRA Warning Notice on Misuse of AI – What Every Firm Must Do
SRA Releases Warning Notice on Using AI in Legal Work Firms are urged to read the recent warning notice from the Solicitors Regulation Authority (SRA) on the misuse of artificial intelligence in legal services, which can be accessed in full here: https://www.sra.org.uk/solicitors/guidance/misuse-ai/ The regulator has been firm in its stance,…
Domestic PEPs: Why ‘Lower Risk’ Still Means Real Checks
When speaking with fee earners about their understanding of what has changed for domestic politically exposed persons (PEPs), we often hear a similar response: they are lower risk now, so we do not need to worry about them as much. While it is an understandable reading of the rule, this…
SRA Highlights Cyber Crime and AI In Latest Risk Assessment – What Firms Need to Do
Latest Sectoral Risk Assessment Highlights Technology Risks The Solicitors Regulation Authority (SRA) updated its Sectoral Risk Assessment on 6 August 2026, and the latest revisions tell firms where the regulator now expects their attention to go. Alongside the familiar high-risk areas of conveyancing and client accounts, the technology section has…
Money Laundering Regulations 2026: Changes Now in Place
The latest amendments to the Money Laundering Regulations are effective as of 30th June 2026, marking the implementation of several targeted changes that affect all regulated businesses. Read our previous article here, detailing those changes: MLR 2026 Amendments: What Law Firms Need to Know. In publishing its guidelines, the Law…
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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