The Compliance Officer for Legal Practice (COLP) nomination deadline is imminent. Add to this the publicly announced compliance warnings and you can understand why law firms are under pressure to adhere to the SRA’s new rules.
Chairman of Riliance Software, Mark Gidge, says that the company has “taken on board 15 new clients over the past few weeks” with interest in the product leading to a “shortage of diary space, and the decision to recruit three more team members to ensure that firms are not left waiting to see the product”.
“Our expansion is entirely market-driven. Riliance is a unique solution to a critical issue. Practices need a central control point for risk and compliance matters, typically stored in multiple locations involving Word, Excel and Outlook. Riliance conveniently brings all this together into the one application.
Even better, Riliance doesn’t come with a hefty price tag. The price is so affordable, set at a low monthly fee, which removes the cost barrier often associated with IT investment. Given the timing and obvious benefits of Riliance, it’s not surprising that our client base is growing week-by-week”.
Based throughout the UK, new Riliance customers range from sole practitioners to multi-site practices, covering the full range of legal services, and include firms such as Bridge McFarland, Minards Pavlou, Silverbeck Rymer, Hibberts LLP, Birchfields Solicitors, R J Gill LLP, GT Law and Giffen Couch & Archer LLP.
Speaking on behalf of Bridge McFarland, Tracey Inkpin, Compliance Manager, commented:
“The Riliance product is so relevant. It simplifies and centralises the entire risk management process.
For a large multi-site firm such as ours, compliance is quite a challenge, but Riliance helps us to really engage with the Principles and Outcomes of the Handbook. It’s a centralised portal for risk and compliance documents or correspondence”.
“There are only a few weeks until the end of March when firms need to register a COLP representative and introduce systems, controls and policies for Handbook compliance. We’d be happy to talk to any practice about how Riliance can help them to effortlessly meet all their requirements in the risk and compliance arena”.
The success of the Riliance software is not surprising when you consider the recently published SRA report “Attitudes to Regulation and Compliance in Legal Services”
which followed a survey of 200 law firms. The survey found that 4 out of 5 firms were not compliant with the new SRA rules, although the new rules had not come into force at the time the survey took place.
Following publication of the report Brian Rogers, Director of Regulation and Compliance Services at Riliance, commented:
“It is clear that compliance with regulations, and having a good risk culture and systems in place, will be essential if firms are to avoid negative contact with regulators”.
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