Law firm compliance is a big part of how we work — and while a lot of it happens behind the scenes, some of it involves you, as a client, directly.
It can feel like an unfamiliar world at first, so we’ve put together a short introduction to it, gathering up some of the questions you might have had along the way.
Throughout this FAQ page, you’ll get a sense of the impact compliance has on the areas of law we practise, understand what you can do to help us meet our obligations, and take a behind-the-scenes look into our client onboarding process. If any part of this process sparks your interest and you’d like to find out more, we’d love to hear from you.
Grab a brew, and enjoy!
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1. The Big Three Questions
What is compliance?
Compliance is more than just your everyday workplace rules. It means making sure our activities follow the relevant regulations, legislation, standards and best practice — the legal and ethical boundaries set by the government, regulatory bodies and industry organisations. As a law firm, Rinew Legal follows specific rules around transparency with our billing, treating our clients fairly, and operating with the highest levels of integrity.
Why is compliance needed?
Compliance is needed for many reasons, including but not limited to the following:
- It keeps your money and information safe — Rinew Legal is subject to laws and regulations designed to reduce the risk of serious incidents such as fraud, the improper transfer of funds, and the mishandling of your personal information.
- It enhances your trust — when you’re considering seeking legal advice, isn’t it reassuring to know that a law firm complies with the law and the standards set by the Solicitors Regulation Authority (SRA)?
- It upholds our high standards — handling your matter with care is paramount for Rinew Legal, and compliance helps us maintain a good reputation, among other benefits.
Activities such as ID and Anti-Money Laundering (AML) checks are how we make sure Rinew Legal meets these legal and regulatory standards and keeps your money and information safe.
Why am I sometimes asked where my money has come from and why does my solicitor need proof?
Whilst it might feel a little excessive, or even intrusive, when you’re asked to evidence your source of income or funds, there are good reasons why your solicitor needs it — to protect both you and us.
The source of funds simply refers to the money used for the transaction you pay towards your matter, and where it has come from. That could be savings built up over time, the sale of a property, an inheritance, or a gift from a family member.
Our solicitors are required by anti-money laundering legislation to check where the money funding your matter has come from. These obligations are in place to prevent criminal activity such as fraud, money laundering and terrorist financing.
These laws are also there to protect you. If the funds can’t be properly verified, your matter may be delayed. And if any part of the funds is later found to have suspicious or unlawful origins, you could find yourself caught up in criminal, legal or financial consequences — which is exactly the kind of situation these checks are designed to keep you well clear of.
If you’d like to know more about source of funds, please email us at hello@rinewlegal.co.uk.
2. Compliance sounds a bit like ethics. Are they the same?
Not quite. While compliance and ethics are both essential parts of how a business operates, they differ slightly. Compliance is specifically about following the external laws and regulations we have to meet to avoid penalties and legal issues. Ethics goes beyond compliance by asking deeper questions about moral responsibility and focusing on your own principles and values. Understanding the difference between the two is something all our solicitors take seriously.
3. What role do clients have in compliance?
Would you believe us if we told you that clients have an active and important role in compliance? Here’s a case in point: your solicitor will ask you to provide truthful information about your identity and to work with us through our client onboarding process. Without your participation, we’re not able to legally represent you at an employment tribunal or execute a corporate acquisition on your behalf.
4. What can happen if compliance isn’t met?
There are a few things that can happen when compliance isn’t met. Here are three examples:
- If your money is held in Rinew Legal’s client account, there’s a risk of those funds being frozen — and that’s obviously the last thing anyone wants.
- You might have to find, pay for and onboard with another law firm, even if you’ve got an important tribunal coming up.
- Your data could be exposed and end up in the wrong hands.
None of this is meant to alarm you — quite the opposite. The safeguards we have in place are precisely what keep these situations from happening in the first place.
5. Why do you ask for so much upfront?
Whilst this might seem like a lot at the very start, early compliance and information gathering allows us to point you towards the solicitors with the right expertise to give you appropriate advice, and to give you a clear estimate of the costs that apply to your matter.
Why does my law firm need my ID?
In short, your law firm needs your ID because we’re legally required to confirm that you are who you say you are. That’s a good thing for you, too — it helps reduce the chances of you becoming a victim of identity fraud.
Why does my solicitor need my passport and proof of address before we start?
Your solicitor will need a form of ID and proof of address as part of the onboarding process. Proof of address is simply documentation that confirms where you currently live — for example, a bank statement issued within the last three months.
Why does my solicitor need my passport and proof of address before we start?
To sum it up, the onboarding process typically involves gathering the client information we require, explaining our terms of engagement, verifying identities, and carrying out risk assessments on both the client and the matter. If you’d like to know more about the client onboarding process, please email us at hello@rinewlegal.co.uk.
6. What happens to the information and documents I share – how are they kept secure and confidential?
The information and documents you share are used for specific purposes, such as verifying your identity as part of the onboarding process. Your information is stored on cloud-based software that requires multi-factor authentication for your solicitor to access and manage your matter. The way we use and store your information is carried out in line with the UK GDPR and other data protection laws.
Is my information safe with you?
Yes. Your information is safe with us because we’re bound by a strict duty of confidentiality, regulated by the SRA, and registered with the Information Commissioner’s Office. For more information about how your data is handled, please see our Privacy Notice.
7. What standards can I expect from a law firm, and what happens if something goes wrong?
You can expect us to put what we stand for into practice. As a law firm, Rinew Legal works to the professional standards set by the SRA. These standards call for clear communication, transparent pricing and competent representation, all tailored to your specific needs. And in the unlikely event that our high standards ever slip, we have a clear complaints process where you can raise your concern with us directly.
What does is mean that Rinew Legal is regulated by the SRA, and how does that protect me?
Rinew Legal being regulated by the SRA means our solicitors work within a framework that protects you. The protections you benefit from include us acting in your best interests, keeping your personal information safe, treating you fairly, and much more.
8. Can you tell me more about the role of Compliance Assistant?
Our Compliance Assistant, Elizabeth Roberts, ensures that Rinew Legal meets its legal and regulatory obligations while providing a service that’s right for you. One of her responsibilities is managing the onboarding process, where she sends ID and AML checks for clients to complete and produces the client and matter risk assessments. This work all helps make sure Rinew Legal provides a service that fits you and your matter.
Wrapping Up
We hope you’ve enjoyed reading this short introduction to compliance — what it means, the impact it has on the areas of law we practise, and what you can do to help us meet our legal and regulatory obligations.
Whenever you turn to us for legal advice, please remember to work with us through the onboarding process by providing truthful information about your identity, your matter and, where needed, your money. We’re always grateful for your input in the process.
Now that you’ve had a behind-the-scenes look into how our onboarding process works, which part of it has sparked your interest the most?
Share your thoughts on the process, or any other elements covered in this article, by emailing hello@rinewlegal.co.uk.