SRA 4 Hour Webinar Bundle 
Available from 20th March 2024
Expires after 90 days
Trevor Hellawell MA (Cantab)
CPD Hours: 4
Our 4-hour SRA Webinar Bundle consists of 4 x 1-hour pre-recorded webinars.
PLEASE NOTE: This SRA Webinar Bundle will be viewable from 20th March 2024.
This bundle includes the titles below:
- AML – SRA Warning Notices on Client & Matter Risk Assessments
- SRA Accounts Rules 2019 – specific issues and how integrity is all
- AML – Sanctions, Fraud and six-figure penalties from the SRA
- Wellbeing & Vulnerabilities at Work – the SRA’s new agenda
More details about the courses:
1. AML - SRA Warning Notices on Client & Matter Risk Assessments
In a spirit of increasing exasperation, the SRA issued two key documents in 2023 – a Thematic Review which focussed on the matters that a law firm needs to be getting right in its practice-wide risk assessment, and a Warning Notice about the importance of client and matter risk assessments.
Neither said anything of much novelty, but they made several important points about content, over-familiarity and being able to justify our conclusions on client and matter risks.
The seminar will focus on:
- SRA Thematic Review
- Things to focus on in our Practice-wide Risk Assessments
- SRA Warning Notice
- How to undertake a client risk assessment
- How to undertake a matter risk assessment
- New burdens on us to justify our conclusions
2. SRA Accounts Rules 2019 - specific issues and how integrity is all
Four full years after their introduction, the ‘new’ SRA Accounts Rules still cause some flurries amongst law firm staff. Relatively few firms seem to have taken advantage of the new freedoms offered by the slimmed down version of our fundamental accounting principles and prefer to stick to the rigidities of the older system. If it ain’t broke, why fix it?
However, the SRA have recently consulted on some minor amendments to finesse the ‘new’ Accounts Rules which were intended to clarify some points that have confounded some commentators. The revisions are few, but significant and still the aim is to reduce the burdens on law firms. Meanwhile, the SRA’s concentration on the use of client account as a banking facility, and the perpetual problem of residual balances continues to rank high on law firms’ hit-lists.
Fee-earning and administrative staff (young and old) would both benefit from this updating seminar.
3. AML - Sanctions, Fraud and six-figure penalties from the SRA
As the SRA maintain their unremitting pressure on law firms to ensure we are doing all we can to counter money laundering, terrorism and proliferation financing, the AML regime continues to intensify. With increased attention focussed not only on practice-wide risk assessments, client and matter risk assessments, source of wealth and source of funds enquiries (and increasingly the obligation to get corroborative proof of what we are told) as well as paying special regard to the sanctions position generally, the burdens on us all continue to mount. Couple that with a six-figure fine imposed on a major law firm for failing to carry out things properly in matters undertaken in 2017 and 2018 and the future looks grim indeed.
This seminar will explore:
- Regulators’ investigations – key enquiries and things to focus on
- Key financial crimes, including sanctions list guidance and counter proliferation financing
- Key PoCA duties and legislative risks
- Overlaps with frauds and scams; new provisions in the Economic Crime Act 2023
- New NCA Suspicious Activity Reporting portal
- Risk assessments of clients and matters – key inclusions
- CDD – the key aspects:
- Getting the key documentation
- Vetting the key documentation
- Source of wealth and funds investigations
Other considerations – high-risk countries, PEPs & ongoing monitoring
4. Wellbeing & Vulnerabilities at Work - the SRA's new agenda
In April 2023 the SRA’s suggestions for wellbeing inclusions in the Standards & Regulations and Codes of Conduct were implemented. The aim is to take account of indications of unacceptable behaviour which may be born of stress and pressure, not least in the aftermath of the pandemic and the current cost of living crisis. It challenges us all to call out unacceptable practices in the workplace – and outside – and to feel open about reporting when matters get out of hand. It also encourages an open culture in the workplace and support and respect for all staff in their workloads and work-life balance.
The following will be covered:
- Amendments to the Codes of Conduct
- Amendments to the Fitness to Practice Regulations
- What is bullying – and how do we stop it?
- Key inclusions in a Wellbeing strategy
- Support for staff in reporting unacceptable behaviour
- Differentiation between brusqueness and unacceptable behaviour
- SRA Guidance