Why should we use How Compliance Ltd?

How Compliance Ltd provides a wide range of regulatory compliance services and training to law firms and other professional services providers across the regulated sector.

Director Laurence Howland has extensive experience in AML/CFT, financial crime risks and regulatory compliance drawn from over 30 years of law enforcement and regulatory experience and as the current Director Risk and Compliance of a highly successful solicitors firm.

He has also designed and delivered training to support the Law Society’s Risk and Compliance accreditation on AML, Fraud and Bribery. All our services and training are delivered by knowledgeable, experienced compliance professionals.

What do I need to have in place to manage the risk of money laundering?

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 require you to assess the risk of money laundering and terrorist financing in your business and maintain effective policies, controls and procedures to manage that risk. We can work with you to conduct a risk assessment of your business and to design and implement proportionate, effective processes. We can also review your existing policies and conduct audits to provide assurance of proper regulatory compliance across the firm.

Why do I need to be concerned about sanctions, bribery and tax fraud?

The law requires all firms, including those outside the regulated sector for money laundering purposes, to maintain effective processes to manage the risk of sanctions breaches, bribery and facilitation of tax fraud. Companies without such processes can be held legally responsible for the actions of their employees and agents even if those actions were not approved or known of by the company. A cohesive approach to financial crime risk management can effectively meet the requirements of several pieces of compliance legislation.

What training can you deliver?

As well as a number of standard courses on AML, Bribery, Financial Crime, Fraud, SRA Standards and Regulations and Risk and Threat Management, we can produce bespoke compliance training to meet the specific needs of your firm, via onsite training, classroom training, video conference or through custom-designed written material and video content.

Can I outsource my COLP, COFA and MLRO functions?

It is a regulatory requirement that your COLP, COFA and MLRO are Partners or employees of the regulated practice; however, we can offer you a comprehensive subscription package tailored to your firm’s needs, providing timely written advice on your regulatory responsibilities and potential courses of action.

How do I get in touch with you?

You can contact us by phone, email or by completing the “contact us” form on our website. Our team will get back to you promptly to discuss your requirements and offer you a tailored solution.

How do we know that your products are compliant with the regulator’s requirements?

Our policies, controls, procedures and risk assessments have all been audited by and met the requirements of both the SRA and Lexcel, the Law Society’s own quality standard. In addition, our Director Laurence Howland is a recognised expert in AML, financial crime and legal sector regulatory compliance and has designed and delivered professional accreditation training for both the Law Society and Lexis Nexis practice reference database.

What else needs to go into my firm’s risk assessment?

The regulatory landscape is constantly changing and it is extremely challenging for a busy client-facing professional to keep up-to-date with the demands of regulators across AML/CTF, fraud, financial crime and other risks and threats. We can support your firm in drafting and implementing a comprehensive risk assessment reflecting the requirements of the regulator, the wider risks and threats across the industry and the specific issues impacting on your own firm, making your risk assessment compliant with regulatory requirements and relevant to your staff and employees.

Can you assist us with high-risk matters and Enhanced Due Diligence?

Yes, we can! A high-risk matter, properly understood and managed, does not necessarily have to mean turning away work. We can advise and assist you in conducting meaningful bespoke research on complex personal and corporate matters, creating audit trails and retaining documentary evidence of the steps you have taken to manage and mitigate risk. This allows you to make properly informed decisions about onboarding clients, evidence and support those decisions and perform ongoing monitoring during the life of the matter, protecting your firm and your clients.