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Regulation and compliance

The team advises law firms and other professional practices and bodies on a range of regulatory issues and governance matters.

How can we help?

We can undertake "health checks" on a firm's risk management and compliance practices and advise on necessary (or advisable) improvements as well as governance and best practice generally or in specific contexts. We can also advise on the international regulatory dimension (e.g. when issues such as global control, voting capital structure and profit sharing need to be considered against the background of the UK regulatory regime).

Law firm regulation and compliance

Our team advises regularly on issues such as conflicts of interest, compliance with (and breaches of) the Solicitors Regulatory Authority’s handbook, anti-money laundering regulations and duties of disclosure and confidentiality.  It also advises on authorisation of existing and new entities (including ABS) by the SRA and other regulators approved by the SRA.

Although a law firm's compliance with the regulatory regime is a responsibility of all of the firm’s managers, in practice much of the burden falls on the firm's compliance officer for legal practice (COLP) and compliance officer for finance and administration (COFA).  MTG organises a forum for law firm leaders and compliance officers to discuss issues faced by COLPs and arising from compliance with outcomes focused regulation by the SRA, and is a regular commentator and thought leader in this area.