In common with many of their clients, law firms face a number of regulatory challenges in demonstrating that the policies and procedures they use are properly risk-based and appropriate. Anti-money laundering and anti-bribery and corruption polices are good examples.
A fundamental prerequisite to a firm’s ability to demonstrate that they have adopted a reasoned and risk-based approach is a written risk assessment. Indeed, from an anti-money laundering perspective, this is likely to become mandatory under the Fourth EU Money Laundering Directive.
It can also be invaluable in establishing a defence in the event of a breach of the SRA Code of Conduct as it can amount to evidence of professional judgement being applied.
We help firms undertake risk assessments, including planning and creating the written assessment.
For specialist legal advice on Risk Assessments please contact Sue.
0345 330 6791 email@example.com