Welcome to the Regulation & Compliance Office’s fortnightly roundup, where we look at all the latest stories to keep you ahead and informed in the world of law and compliance.
The RACO roundup is just another way in which we keep the solicitors and other law professionals we work with in the know, so we can ascertain that you are never missing the vital developments occurring in your profession.
Below, you will find the most recent headlines selected by our compliance experts, followed by a Security Section, where we will also give you an overview of the latest scams currently impacting solicitors and their clients.
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The New Partners Insight is Here!
INSIDE THIS ISSUE:
Welcome to RACO’s Partners Insight Newsletter, wherein we showcase our current partners, their services and other essential insights. Read on to delve into articles from:
- FireTap Legal Marketing
- PracticeEvolve
- LegalKeepers
- Aquarius Reporting &
- Verify 365
Featured also is word from David Green of RACO (see below), tips for law firms, service guides, and lots more…
DOWNLOAD THE FULL NEWSLETTER HERE
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SRA Disciplinary Defence: What Solicitors Must Know About Public Outcomes
– David Green
What to Expect When Facing SRA Investigations and Disciplinary Proceedings
No solicitor or firm wants to be the subject of an enquiry from the Solicitors Regulation Authority (SRA) or face a hearing before the Solicitors Disciplinary Tribunal (SDT). However, with increasing scrutiny from the regulators, these situations are becoming more common.
When they do arise, an enquiry or investigation can present significant challenges for law firms and individuals and result in serious consequences, both professionally and personally.
Whether the matter begins with an internal investigation, has been initiated by the SRA, or has already been referred to the SDT, at the Regulation and Compliance Office (RACO), we will be ready to support any firm or individual, no matter at what stage of the process we are instructed.
Our aim is always to provide calm, clear and practical support, but our services are designed to help prevent these matters from reaching that point in the first place.
In a follow-up to our previous article, ‘Navigating SRA Enquiries and Investigations’, we look at the recent increase in SRA investigations and SDT cases, as well as the SRA’s preference for publication over privacy.
Read full article here. Alternatively, you can download the full newsletter here.
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LegalKeepers
When the Main Stage Fails, the Back Office Keeps the Show Going
Just days before the gates were set to open, a fire broke out at Tomorrowland’s main stage. It caused significant damage, disrupted preparations, and forced organisers to rethink how one of the world’s most iconic festivals would proceed. But they made a decision and the show will go on.
That kind of resilience does not happen by accident. It comes from knowing that behind the lights, cameras, and headline acts, there are systems and people working quietly to keep everything else running. In many ways, law firms operate the same way.
When things go wrong or when things grow faster than expected, it is not always the high-profile roles that hold things together. It is the support systems behind them. And nowhere is that more important than in legal bookkeeping.
To read the full article, download the newsletter here.
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Aquarius Legal Reporting
Move On from Your Legacy System – Without the Data Migration Headache
Most firms realise that a move from a legacy case management or document system to a cloud-based platform will provide increased efficiency, faster collaboration, enhanced security, and improved reporting. However, aside from concerns such as cost, and staff adapting to new software, one of the biggest obstacles often holding firms back from making that transition is the challenge of data migration.
Even a small high street firm could have years of data stored across multiple systems. Furthermore, if the data has not been accurately maintained, contacts may have been duplicated, some data may be outdated, and some of it will still be essential for compliance or reporting purposes. Therefore, migrating data without planning is risky, as you could lose access to key files, carry over errors, or end up with two disconnected systems that don’t talk to each other. This is where most firms are deterred by the prospect of migrating to a new system. It’s not just about what to move, but also how to clean it, how to integrate it with the new tools, and how to ensure access to anything important isn’t lost. Additionally, what will the reporting functionality look like when trying to collate historical and future data?
Read the full article here.
Win 2 Months of Aquarius Reporting Plus a Full Day with Our Experts
We’re offering RACO members the chance to win a premium package designed to transform how your law firm uses data – free of charge.
This exclusive prize includes:
- 2 months access to Aquarius Reporting – Up-to-date insights. One unified view.
- 1 full day of our Expert Advisory Service – Strategic guidance tailored to your firm’s goals.
Make better decisions, faster – with the tools and expertise to back them up.
Get clarity, control, and competitive advantage.
Enter the prize draw by Friday, 22 August.
Winner announced Frida,y 29 Aug.
To enter the prize draw, please click here.
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PracticeEvolve
When Borders Modernise, So Should Casework
This year, UK travellers will begin moving through European e‑gates once again. What was once a benefit reserved for EU citizens is now being extended to British passport holders, starting with Germany and expected to follow across other major airports. The move is designed to reduce queues, improve flow, and make border control more efficient without compromising on oversight.
It is a small but significant example of how systems once built for friction are finally being reimagined for progress. And for law firms it is a moment worth watching.
Because if borders are modernising to move people through complex systems more smoothly, firms should be asking the same of their own internal operations. Especially when it comes to the way casework is managed.
To read the full article, download the newsletter here.
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FireTap Legal Marketing
How Law Firms are Making a Splash with Email Marketing
Yes – that’s right. People still open marketing emails. However, learning how to reach your target audience and avoid being sent to the spam bin is becoming more of a fine art than a protocol.
In modern times, inboxes are bursting at the seams with scattergun-approach marketing and blanket junk advertisements, meaning people are now more than ever ready to delete your message at a single glance. Captivating your recipient in the few milliseconds you have whilst their brain sorts your email between the ‘Oh, that might be helpful’ and ‘God, not more trash’ piles can prove challenging, but there is a way…
Learning to optimise email marketing fully is, first and foremost, about adopting a process and constructing a focused and revised strategy. However, regardless of the numerous trials and tribulations all businesses must face (particularly smaller ones), email marketing is one of the most cost-effective ways to market your firm to a larger audience.
To read the full article, download the newsletter here.
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INTRODUCING… VERIFY 365
The Complete AML, KYC and Client Onboarding Platform
With enhanced due diligence verification checks and source of funds analysis, confirm the identity of an individual or business and protect your firm from potential risks and sanctions by utilising our innovative AML and compliance solution onboarding platform.
About Us
Established by experienced lawyer Rudi Kesic, his vision was to help elevate the legal sector by solving the challenges he regularly faced, including anti-money laundering (AML) and compliance. Rudi wanted to craft an innovative legal technology product that had the ability to not only grow but develop and elevate the legal sector.
Verify 365 is the award-winning AML, KYC, and KYB client onboarding platform, designed by legal experts to address the specific needs and challenges of solicitors, conveyancers, and estate agents.
Verify 365 combines nine essential elements in one seamless solution: ID Verifications, Global Address Checks, Source of Funds Checks, eSignatures, ePayments, eForms, PEPs & Sanctions Checks, KYB Checks, and Property Searches.
Our software was created within the guidelines set by the Solicitor Regulation Authority and our proprietary ID Verification technology, DynamicID, ensures you achieve the HM Land Registry’s coveted ‘Safe Harbour’ status.
“Legal tech crafted by Legal Experts”
TO FIND OUT MORE, CLICK HERE OR CONTACT RACO VIA THE INFORMATION PROVIDED BELOW.
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Regulation & Compliance Office
LAW FIRM COMPLIANCE
Regulation & Compliance Office provides essential support to law firms. We offer a range of services and consultancy tailored to the Legal sector, including guidance and services for regulation & compliance. We have gained a wealth of knowledge and experience in managing law firms and working with them to achieve profitability, stability, and efficiency.
Our goal is to become a valued and respected partner to our member law firms, providing high-quality services and solutions at all times.
If your firm wishes to review or strengthen its approach to risk, compliance and regulation, you can call us on 0203 985 8550 or email us at info@regulationandcomplianceoffice.co.uk
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Firm Fined for Almost £173,000 Following AML Failures
Cambridge-based firm fined almost £173,000 after representing a foreign client and failing to carry out the necessary checks. The client the firm acted for in a residential property purchase in 2017 was classed as a non-domestic politically exposed person, meaning they (the firm) were required (at the time of the purchase) by anti-money laundering regulations to seek approval from senior management for establishing such a business relationship.
The investigation carried out by the regulator also uncovered that the firm failed to take adequate measures to discover the source of the client’s wealth and funds. In addition, further monitoring was required for as long as the business relationship lasted.
It has now been revealed that the firm did not identify the client as a PEP until two months after the purchase had been completed. The firm also provided inaccurate information to another firm involved in the transaction, stating that the buyer’s identity had been verified.
Following the discoveries of the investigation, the firm admitted to failing to comply with AML legislation, as well as failing to run its business in accordance with proper governance principles.
In a statement following the outcome, the Solicitors Regulation Authority commented, “It is in the public interest that firms ensure compliance with the money laundering regulations.”
“A failure to do so has the potential to cause significant harm by exposing the firm to the risk that its services will be used to carry out money laundering or terrorist financing. Where thorough checks are conducted, this mitigates and manages the risk and ensures that the public can take comfort that firms are complying with their legal and regulatory obligations.”
Due to the firm’s status as an alternative business structure, the SRA was able to exceed its £25,000 fining threshold, and initially, the fine was calculated at around £247,000. However, this figure was reduced to account for early admissions and full cooperation with the regulator. The SRA also noted that the firm had made no financial gain or received any benefit from its disregard of the regulations.
Source: here.
Law Firm Compliance Service London
If you recognise that you have gaps in your processes and need to overhaul your approach to compliance, including MLR 2017 compliance, our compliance services will put your firm in a position where it is immediately compliant.
You can see full details of each service by clicking the links below:
Regulation & Compliance Service – Our Risk Management Assessment Service has been specifically designed to review and update a firm’s approach to risk and compliance management.
- MLR 2017 Regulation 21 Independent Audit – A review of the firm’s approach to regulation and compliance, including AML procedures, with the audit meeting the requirements of Regulation 21 of AML 2017. The output provides the firm with a written gap analysis and solutions to remedy any issues and ensure compliance.
- AML Training Courses – Our Typical AML Training Includes:
- AML Training for ALL staff to meet the firm’s obligation to provide annual training.
- One-to-one training for the MLRO and MLCO on their obligations and requirements.
Contact Us Now
Call us now on 0203 985 8550, email us at info@regulationandcomplianceoffice.co.uk or make an online enquiry here.
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S C A M A L E R T S
Hawthorne & Associates Solicitors Claiming to be a Law Firm
The SRA has reported being contacted regarding an email that asked the recipient to contact a solicitor, ‘Michael Allen’, at the email address ‘michael@hawthorneassociatesols.co.uk’ for the purpose of arranging documentation and release of funds in relation to an inheritance.
The SRA has also reported seeing an email claiming to be sent by ‘Michael Allen’ at ‘Hawthorne & Associates Solicitors’ from the email address ‘hawthorneasols@consultant.com’ – again asking the recipient to provide information to enable the release of the purported funds.
This second email gives the purported address of ‘Hawthorne & Associates Solicitors’ as ‘204-5 Dean St, Portland Square, St Paul’s, Bristol, BS2 8SF’. The following phone numbers were also listed ’44 (0) 7440 695 683′ and ’44 (0) 742 445 3727′.
Please note that the SRA does not authorise or regulate a firm of solicitors called ‘Hawthorne and Associates Solicitors’. Therefore, any business or transaction through the above email addresses or phone numbers is not undertaken by a firm or individual authorised and regulated by the SRA.
Please note also that the SRA authorises and regulates a genuine solicitor called Michael David Allen, who is employed by Haywood Lunn & Allen Ltd.
The genuine solicitor has confirmed that they do not have any connection to the details referred to in the above alert.
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False Correspondence from ‘Shaikh Law Firm’
The SRA has reported that a third party has misused the name of Shaikh Solicitors.
An Instagram account, listed as ‘Shaikh Law firm’, has also been discovered, which customers are subsequently mistaking for a genuine firm of SRA-regulated solicitors.
The SRA has also reportedly been informed that customers have viewed promotional material regarding investment schemes from ‘Shaikh Law firm’ and/or solicitor, ‘Muhammed Abid’. The referred Instagram account and publications have not been provided/recovered.
‘Shaikh Law firm’ also reportedly made contact via WhatsApp. Customers are reporting being contacted via a London-dial-code telephone number (442037698723) and/or email ‘office@shaikhlaw-firm.com’. Endorsed ‘Power of Attorney’ documents seeking consent are then sent.
While the SRA ID number for ‘Shaikh Law firm’ on the referred document correlates to a genuine firm of solicitors, Shaikh Solicitors, the letterhead contact information, website link, and branding are inconsistent with the genuine firm.
There have also been reports of a photo ‘ID card’ with a QR code in use. The surface of the ID card purports to relate to ‘Muhammed Abid’ of Shaikh Solicitors, quoting SRA No ‘429634′.
The Genuine Firm
Please note that the SRA authorises and regulates a genuine firm of solicitors called Shaikh Solicitors. The genuine firm has confirmed that:
- No aspect of the chronology emanates from this firm.
- ‘Shaikh Law Firm’ is not an adopted trading style
- It does not currently advertise on Instagram
- It does not currently have a contact number with a London dial code
Shaikh Solicitors has confirmed that the referred ‘photo ID card’ associated with its firm is false and does not relate to its regulated solicitor, Mr Mohammed Abid.
Mohammed Abid (SRA No. 544005) is an SRA-regulated solicitor currently registered as employed at the genuine firm Shaikh Solicitors.
Mohammed Abid (SRA No 334070) is an SRA-regulated solicitor currently registered as employed at the genuine firm Good & Co Solicitors Ltd.
The SRA No ‘429634’ relates to SRA-regulated solicitor Jamie Partington, currently registered as employed at the genuine firm Higgs LLP.
It should also be noted that ‘ID cards’ for solicitors or other regulated individuals are not an authorised/required means of identification under SRA Standards and Regulations.
BEEN CONTACTED?
Here’s What to Do…
When a firm’s or an individual’s identity has been copied or cloned, due diligence is necessary. If you receive correspondence you believe to be suspicious, you should conduct your own due diligence by checking the authenticity of the correspondence by contacting the law firm directly by reliable and established means.
You can also contact the SRA directly to find out if individuals or firms are regulated and authorised by the SRA and verify an individual’s or firm’s practising details. Other verification methods, such as checking public records (e.g. telephone directories and company records), may be required in other circumstances.
Compliance Support for Law Firms
We at RACO are always at hand to provide tailored guidance to help you make the most informed and beneficial decisions. We help you understand the recurrent regulatory shifts and work with you to provide solutions. With our team of professional specialists and our renowned legal expertise, we can work with your firm to ensure you are never left unprepared in the wake of legal changes or cyber threats.
For more information on how we can help, call our consultants on 0203 985 8550 or email us at info@regulationandcomplianceoffice.co.uk
