We are all aware that working arrangements within the legal profession have changed beyond recognition within the last couple of years, largely instigated by the COVID-19 pandemic. This year’s LPM Frontiers Report found that only 13% of firms surveyed expected their team to return to the ‘five days in the office’ model. Three days in the office was the most popular choice indicating that firms would prefer the balance to be tilted slightly in favour of working in the office over the course of a working week.
Whilst many firms have been responsive to the demand for hybrid working arrangements, a key consideration, which is often overlooked, is whether they are also modernising their approach to performance management to align with the new ways of working and indeed with new ways of thinking, such as the shift towards employee performance development and giving them opportunities to learn and grow.
- Topic:
- Legal
In this blog we look at current market conditions for Solicitors Professional Indemnity Insurance (PII), and key areas that firms need to consider and address as part of their October 2022 renewal preparations.
- Topic:
- Legal
The best way to look at a Firm Wide Risk Assessment (FWRA) is seeing it as the core of your Anti-Money Laundering (AML) approach within your law firm. As a firm you are to identify, assess and document your risks on your risk register but for AML you must consider these more deeply in your FWRA. This sets up how your policies will be written, how procedures will take place within your firm and how your clients and matters are assessed daily.
This article explains how to gain the most out of your FWRA and for it to be effective.
- Topic:
- Legal
AML is a hot topic for the SRA at the moment and in its audits of firms, one of the main concerns has been a lack of understanding in many law firms in relation to source of funds.
- Topic:
- Legal
Law firms can face substantial criminal sanctions for failing to screen employees as required by the Money Laundering Regulations (SRA “Regulations”). This can be a very hot potato for some law firms, as many tend to shy away from asking for, and providing, detailed references that include specifics regarding the sub-standard behaviour of former solicitors, and other staff, for fear of being sued for ‘saying the wrong thing’ (something which does not carry criminal sanctions).
In this article, we explore solicitor recruitment and employee screening conduct obligations of law firms and how to stay compliant.
- Topic:
- Legal
The rules about law firm referrals from third parties and how to avoid problems
Our recent webinar looked at a number of important topics related to the involvement of law firms and solicitors in referral arrangements with external third parties. In this article we cover the rules under which law firms have to operate, common issues found in referral arrangements and agreements, and how firms can avoid problems going forward.
- Topic:
- Legal
Why a law firm menopause policy is vital in 2022 and our top ten tips to becoming menopause-friendly
Not only do females make up 51% of the overall UK population, women of menopausal age (usually around 45-55 years of age) are the fastest growing demographic in the UK job market. Looking at the legal sector specifically, according to a 2022 report by the Solicitors Regulation Authority, 61% of solicitors are female, and women make up 74% of the workforce in terms of other staff working in law firms. Furthermore, the Law Society Gazette’s recent statistics show that 60% of new entrants to the profession are women.
A common misconception is that the menopause is an old woman’s thing, however the tide is turning, and people are waking up to the fact that it is not appropriate (not to mention against the law) to discriminate against and dismiss women who are going through this life changing stage. To put it into context, millennials are the largest generation in the workforce and the oldest of them are currently around 40 years old, and heading towards the perimenopausal period (the time leading up to full blown menopause, when hormone levels are decreasing and women may still be having regular periods, but symptoms are expected to start to appear).
- Topic:
- Legal
When it comes to the human brain and central nervous system, the concept of neurodiversity states that we don’t all end up the same – individuals are categorised as either neurotypical (they process information and function in a way that society deems ‘the norm’) or neurodivergent (they analyse content in an alternative way).
We have all seen the headlines related to the invasion of Ukraine by Russia, which has bought about the implementation of the most severe level of sanctions levied on the country and associated people and companies.
To protect your firm you must ensure you implement appropriate policies, controls and procedures relating to sanctions, which must include making appropriate checks on all your clients to ensure they don’t fall within the sanctions regime. And if they do, making sure you obtain the appropriate consent before you start acting for them.
- Topic:
- Legal
Since it was introduced by the Law Society in 1998 the Lexcel standard has become recognised by many as a sure-fire way for legal practices to reduce risk, reduce complaints and reduce mistakes. Any law firm wishing to improve clients satisfaction and profitability should consider Lexcel, but before they embark on the process, they should consider whether or not their legal practice management software is up to the job. Is it going to aid or hinder the firm with the Lexcel accreditation process?
This article is a summary of what the Access Legal team of software experts has learned over 25+ years about Lexcel from many in depth customer interactions - including the benefits of getting the accreditation and key facts all law firms should know about the process and requirements. It also aims to show why having the right software in place can help a law firm achieve and maintain its Lexcel accreditation. We have collated our key learnings as a result of working closely with many Lexcel accredited firms for almost three decades.
The main points provide an interesting list of considerations for those firms wishing to go for Lexcel for the first time. However, this guide is probably of even more significance to practices that feel they are currently working too hard to maintain the accolade, and are perhaps recognising they need to look for new legal practice management software.
- Topic:
- Legal
