Compliance Services
compliance
noun
the act of obeying a law or rule, especially one that controls a particular industry or type of work…
Overview
Compliance is growing in conveyancing, not to say it was not important before, but over recent years there has been an influx of different type of law firms, and the foresight to match such variations requires different operational methods towards compliance.
The spectrum of conveyancing today differs to traditional business models, for example the rise of consultant lawyers is taking its position as one of the leading business outfits for law firms in today’s age. Another big change is owners of law firms need not be qualified lawyers. With such vast changes in the industry should firms train their staff in compliance or outsource these requirements?
Directives from regulatory bodies have been adopted compelling law firms to put in place reporting obligations; failing that penalties are incurred. Law firms can protect themselves from these consequences by introducing an effective compliance system, however this pulls away from the all-important intake of billing.
The magnitude of compliance and who should be responsible within an organisation are evident within the SRA and CLC principles yet to achieve perfection and not to sway into risky territory the Hub is offering a compliance service aimed solely at post-completion duties to lighten your load.
How does it work?
1. Contact us, by completing your details on the following link, to discuss your compliance service package.
2. Once your request has been received you will be contacted by email to arrange a convenient time to discuss your requirements with our experienced team.
Our post-completion compliance service includes:
Gap Analysis
A gap analysis is a method used to compare your current performance against your desired performance. It will identify if a law firm is meeting the requirements imposed by the necessary regulatory body. If gaps are identified, corrective steps will be pinpointed to ensure compliance is achieved.
Prices start from £300.00 (exc VAT).
Post-Completion Compliance Policy
Having the correct policies in place will create the framework needed to ensure a law firm is operating in a compliant manner. Our post-completion compliance policies serve as a guideline, that directs firms to adhere with external regulations, while ensuring their actions align with ethical principles and risk management protocols.
The policies we offer are:
- Post-Completion Compliance Policy
- File Management Policy
- Due Diligence Policy
- Priority Search Policy
- Register Policy
- Restriction (Certificate of Compliance) Policy
- Reply to Requisition Policy
- Monitoring Application Policy
- Warning of Cancellation Policy
- Extension of Time Policy
- Archive Policy
- Title Information Document Policy
Prices start from £200.00 (exc VAT) per policy.
Checklists
Checklists are a key tool used to reduce errors, improve accuracy and save time. Having the correct checklists in place in your post-completion environment will ensure:
- errors are spotted pre-submission
- requisition rates are reduced
- consistency in how applications are processed and submitted; and
- efficiency of team members.
The checklists we offer are:
- Audit Checklist
- Authority to Act Checklist
- New Lease Checklist
- Plan Checklist
- Remortgage Checklist
- Transfer of Part Checklist
- Transfer of Whole Checklist
- Undertaking Authorisation Checklist
Prices start from £100.00 (exc VAT) per checklist.
Post-Completion Handover Form
The post-completion handover form should be used as a map for the recently completed transaction. This form directs the post-completion team to all documents needed to ensure the transaction is correctly registered, therefore reducing the risk of future complaints and issues. Correct use of this form will ensure:
- key dates, such as official priority searches, are not missed
- dispositions, such as deeds of variation, are not omitted from applications; and
- requisition rates are reduced.
The forms we offer are:
- Post-Completion Induction Form
- Post-Completion Instruction Form
- Requisition Evaluation Form
- Risk Register Form
Prices start from £75.00 (exc VAT) per form.
File Reviews
File reviews are an essential part of any successful compliance package. File reviews should be carried out on a regular basis to ensure service levels are adhered to, transactions are being progressed in the most efficient way, to establish the technical competence of staff and highlight any training requirements.
£75.00 (exc VAT).
Guidance Documents
We offer two guidance documents:
- how to devise a gap analysis for a post-completion department; and
- how to create a post-compliance policy.
Both these guides offer a structure in how to implement best practice in your post-completion department.
Prices start from £200.00 (exc VAT) per guide.
Bespoke Service
Our bespoke service entails a thorough audit of your current post-completion department with a view to creating a gap analysis that is supported by specific policies and procedures. This is a hand-held personalised service to perfect and implement the art of post-completion for your department delivering best practice.
We also offer quarterly file reviews.
Please contact us for further information