Legal Compliance Software
SRA fines: one result on non-compliance
Do you know what the maximum fine a small law firm can receive for being non-compliant is?
In recent conversations with law firms and from feedback at our recent Practice Managers Breakfast it is clear that compliance is a massive concern for law firms and practice managers.
We are also hearing of an increase of law firms getting into situations where the SRA are getting stricter and enforcing their guidelines more.
Taking responsibility to ensure compliance is no small undertaking and ensuring you have the software and systems in place to support you is vital.
From AML checks to HMRC requirements for MTD VAT returns and digital record keeping it is important to ensure your tech is helping you either flag breaches or even more importantly stop you from becoming non-compliant.
It is an area that is at the forefront of our minds when developing and growing our products and services.
If it is something that also concerns you, I would encourage you to watch a Clip from the Webinar recording of “Key Compliance Issues for Law Firms” featuring Deborah the Product Director at Insight.
Rightly so, the maximum fine is £25,000 and I would love to chat to you further about how technology can assist you in staying far away from risk and non compliance. Just click the link below and I will be in happy to give you a call.
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Compliance can be the most stressful part of a Practice Manager’s role – how do your challenges compare to the rest of the industry?
Take a look at the 5 biggest compliance challenges for Law Firms here