Legal Eye launches powerful, comprehensive quality standard for legal services firms

Legal Eye launches powerful, comprehensive quality standard for legal services firms

Legal Eye, a leading provider of best practice, risk management and compliance services to the legal services market, has today launched the Legal Eye Quality Standard. 
Suitable for Solicitors, Licensed Conveyancers and providers of legal information services, the quality standard is the first assessment scheme to address those rules and regulations which are over and above the traditional quality standards.  The standard is also available to firms in Scotland and Northern Ireland.
These include:
The E-Commerce Directive,
The Bribery Act 2010
The Equality Act 2010
Referral and Fee Sharing arrangements
Publicity requirements
TCF (Treating Customers Fairly)
…and many more. 
The Legal Eye team manages the assessment process through a simple, clearly defined process of health checks, fully documented audit trails and file reviews. 
“We have been both astonished and very encouraged by the urgency with which firms of all sizes are embracing the compliance challenge.  This isn’t only in England and Wales but also for firms in Northern Ireland and Scotland” says Jaunita Gobby, Director of Legal Eye.
“The quality standards out there do not individually meet all of the required elements and regulations that are required. We believe this leaves them exposed to significant financial, reputational and insurance risks. This quality standard is also available to Licensed Conveyancers and providers of legal information services which is great for them as they are not able to obtain accreditations for example Lexcel and CQS.“
As well as fully documented paperwork to satisfy audit requirements, firms receive official certification and marketing materials.  It can also act as a positive contributor to controlling PI premiums through visibly evident, robust and documented risk management processes.

Leading law firms have already responded enthusiastically to the adoption of the new standard.  

Says Stephen Coupland, Partner at Advantage Property Lawyers: "As a Licensed Conveyancing firm, Advantage Property Lawyers are unable to apply for Lexcel or CQS Accreditation. As a consequence its Directors instructed Legal Eye Ltd to carry out a full ‘on site’ audit of the firm focusing on ‘Best practice, Compliance and Risk Management’ in terms of the Lexcel quality standard. Legal Eye Ltd assessed APL’s processes and procedures against the Lexcel standard and the directors are delighted that they have achieved the Legal Eye Quality Standard."
The SRA have long been signaling a tightening of the policing regime and tough new penalties come into force in January 2013. 
Jaunita added: “Travelling the length and breadth of the country, we have met firms who think they are fully compliant, but are missing major pieces of the compliance jigsaw.  Large areas like The Bribery Act and compliance with the E-Commerce Directive are a crucial part of firms risk management policies and procedures.  We have designed the scheme so that each piece is captured and falls into the right place"

Legal Eye

https://www.legal-eye.co.uk/

 

 

 

 

 

Legal Eye works with law firms to ensure compliance and optimise performance. Their extensive and thorough knowledge of the law and regulations will ensure your law firm is compliant and your processes sound. Files are audited to ensure you are not only complying with the service level agreements you have in place, but very importantly, also the code of conduct.

They provide a documented audit trail which is firstly, a requirement of the code of conduct and secondly, essential for PI Insurance purposes and very often for CQS, Lexcel and other quality accreditations. This provides documented evidence of a proactive approach towards risk management. The advice they offer is clear and practical, and they pride themselves on exceptional customer service and unbeatable work quality.

Services include:

  • Specialist expertise across the full range of regulatory, risk and compliance issues to inform your internal decision making.
  • Additional qualified resource where you simply do not have the time to review your regulatory position or to carry out essential ongoing tasks such as file reviews.
  • An online risk hub –  an online resource centre for law firms. The hub provides a comprehensive bank of resources to help COLPs, COFAs, partners, directors and managers to manage risk. It includes precedent policy and procedure documents and templates, access to online training on a range of risk and compliance topics, and a range of useful materials such as ‘how to’ guides, short videos and articles.
  • Drafting and review of key policies and procedures including the supply of ‘document packs’ to save you time researching and writing documentation.
  • Expert advice on how to comply with up-to-date regulation including the very latest requirements complete with a written set of recommendations.
  • Specialist outsourced complaints  handling service provided by former SRA and LeO officers.
  • Gap analysis of your firm’s policies, processes and procedures as they relate to the Solicitors Accounts Rules (SAR) including the production of a written report summarising the strengths and weaknesses of the current arrangements and detailing recommended next steps and actions to put your firm in an even stronger position.
  • Training on SAR and on anti money laundering (AML) as well as other finance-related training which can be delivered virtually for your firm, face-to-face (subject to government guidance) or online via Legal Eye’s Training Academy.
  • A Standard Procedures Manual to provide a practical and comprehensive roadmap for firms to follow when looking to double check whether the current operating procedures are fit for purpose, setting up a new firm – or arm of a firm – or starting a new finance function from scratch.
  • Experienced advice and support for one-off projects such as achieving quality accreditations or switching regulators.
  • Proven high quality training for fee earners and staff held at your office/s covering essential risk topics such as  Anti Money Laundering, data  protection, cybercrime, conflict of  interest and more.
  • Online training from The Legal Eye Academy – core modules available to all staff at their convenience. Includes built-in auto reminder functionality so that you no longer have to chase staff indi-vidually to complete important training. Your package includes free updates to ensure knowledge is always up to date.
  • Added value updates by email to all your key people covering all the latest updates on risk and compliance.
  • The Legal Eye team includes former solicitors, partners and directors in law firms; former case handlers at regulators such as the Solicitors Regulation Authority and the Legal Ombudsman and experienced risk and compliance professionals.

Contact: Paul Saunder

Tel: 0203 0512 049

Email:  [email protected]

Address
The Old Grammar School
Church Road
Thame
Oxfordshire
OX9 3AJ

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