LawCrossing’s Post

As a small business owner, in an industry that now requires a lot of compliance regulation, how do we afford the services we need to stay informed and follow the rules and regulations? For large companies, the solution is simple. Hire a full-time compliance officer and allow them to access a legal team as needed. The role is more important than ever, and having a dedicated person makes sense. So, how do small to medium sized businesses navigate this predicament? The expectations are the same, but the disparity in resources put smaller businesses at a disadvantage. One solution is to hire a part-time compliance officer or consultant. For example Angela Tesi Cherrill and her company TESICO offers these consulting services which helps offset costs. Others too - this seems to be a burgeoning new industry. The other idea may be to designate a person within the organization to monitor sites like: 🔹dnc(dot)com 🔸tcpaworld(dot)com 🔹mslawgroup(dot)com 🔸ftc(dot)gov 🔹fcc(dot)gov 🔸and more…. And educate the team as needed. Then, consult an attorney only with specific clarifications or questions to stay within budget. I am definitely frustrated with the inequality of this situation. Any other ideas out there for managing this compliance stuff at compliance stuff at an affordable cost? #Compliance #SmallBusiness #ConsultingServices #LeadGeneration #LeadGenerationIndustry #PerformanceMarketing

As subject matter experts, we understand what you're looking for in your compliance professionals. Get in touch with our team to find out how we could help you fill your vacancies. 📨 [email protected] #compliance #legalcompliance #lawfirm

As subject matter experts, we understand what you're looking for in your compliance professionals. Get in touch with our team to find out how we could help you fill your vacancies. 📨 [email protected] #compliance #legalcompliance #lawfirm

Is it time to bring in a compliance officer? Over the last 12 months, there has been a serious shift in the regulatory landscape for law firms with the SRA tightening its rules and ramping up its enforcement efforts. For many COLPs and Managing Partners, the increased scrutiny and complex requirements mean dedicating an overwhelming amount of time to compliance-related tasks. From meticulous record-keeping to navigating the intricacies of new regulations, the demands are stretching their already full schedules. The impact this is having on firms is huge 🔍 𝗧𝗶𝗺𝗲 𝗖𝗼𝗻𝘀𝘂𝗺𝗽𝘁𝗶𝗼𝗻 - enhanced reporting and documentation requirements are taking significant hours away from client work and strategic firm mansgement. 🔍 𝗦𝘁𝗿𝗲𝘀𝘀 & 𝗣𝗿𝗲𝘀𝘀𝘂𝗿𝗲 - heightened focus on compliance is adding to the stress of a COLP & Managing Partners role, impacting their overall efficiency and well-being. 🔍 𝗥𝗶𝘀𝗸 𝗼𝗳 𝗡𝗼𝗻-𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 - With so many details to track, the risk of inadvertently faiing short of SRA standards is a real growing concern. 💼 𝙏𝙝𝙚 𝙨𝙤𝙡𝙪𝙩𝙞𝙤𝙣? Hiring a dedicated compliance professionals I'm working with a lot of COLPs who are now opting to bring in dedicated compliance professionals. Having a specialised team member to solely focus on navigating the complex regulatory maze can help firms 🔒 𝗘𝗻𝘀𝘂𝗿𝗲 𝗖𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝗰𝘆 - Maintain consistent adherence to SRA guidelines 🔒 𝗘𝗻𝗵𝗮𝗻𝗰𝗲𝗱 𝗘𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝗰𝘆 - Free up COLPs & Managing Partners time to fcus on their core responsibilities and firm growth 🔒 𝗠𝗶𝘁𝗶𝗴𝗮𝘁𝗲 𝗥𝗶𝘀𝗸 -Reduce the likelihood of non-compliance and associated penalties. This continued change in compliance, and hiring a dedicated function is not just an annoying additional cost the business. It will save you, Time, Money and Resources. If you're thinking about adding someone to the team to take it off your plate, drop me a message. [email protected] #SRA #legalcompliance #compliance #COLP Creds to Aventine Lab for the graphic below

As subject matter experts, we understand what you're looking for in your compliance professionals. Get in touch with our team to find out how we could help you fill your vacancies. 📨 [email protected] #compliance #legalcompliance #lawfirm

As subject matter experts, we understand what you're looking for in your compliance professionals. Get in touch with our team to find out how we could help you fill your vacancies. 📨 [email protected] #compliance #legalcompliance #lawfirm

As subject matter experts, we understand what you're looking for in your compliance professionals. Get in touch with our team to find out how we could help you fill your vacancies. 📨 [email protected] #compliance #legalcompliance #lawfirm

Building an internal compliance department can be a daunting task – hiring, training, and ensuring top-notch expertise. But here's something new for you: at My RIA Lawyer, we're not just about cost-effectiveness; we offer a comprehensive compliance solution. Do you really want to navigate the hiring maze, spending time and money on recruitment and training? The truth is, assembling an internal team could cost you around $450k, and that's before you factor in benefits and PTO. Let's face it; you probably know jack-shit about compliance intricacies, and you definitely don't have the time to build and manage a team properly. By choosing My RIA Lawyer, you're not just getting consultants; you're gaining compliance partners invested in your success. Our package includes a Chief Compliance Officer (CCO) and at least two analysts, ensuring your regulatory needs are not just met but exceeded. You could save a whopping $200k by opting for our seasoned team when you compare the cost to hiring your own CCO, as well as a couple of compliance analysts. We're here for the long haul, offering unparalleled service, accessibility, and a level of reliability you won't find in more consultative DIY compliance providers. So, why go through the hiring headache when you can plug into a ready-made, expert compliance department? My RIA Lawyer – where compliance isn't just a service; it's a partnership. Let's simplify compliance together, saving you money, time, and the headache of doing it alone. Send us a message today or give us a call to find out how our compliance services can be the partnership your firm truly needs in 2024.  #ComplianceSimplified #MyRIALawyer

Hiring for compliance positions is tougher than ever with a shortage in the industry. But what if your budget for a single CCO could get you an entire outsourced team? At My RIA Lawyer, our compliance nerds bring years of compliance experience ensuring expertise in every aspect. They handle all CCO responsibilities, digesting lengthy rule releases, and applying them specifically to your firm. Unlike in-house, our team is a collective brain trust, drawing from diverse experiences with other firms. No sick days, no vacation gaps—just reliable support. With us, you're not just hiring a compliance team; you're tapping into a legal powerhouse. Our practicing attorneys bring a wealth of legal knowledge to your day-to-day questions. We don't just navigate regulations; we help you run a successful and growing business while staying profitable and compliant. So send us a message today and find out how our Outsourced Compliance Department service can help you grow in 2024. #financialservices #myrialawyer

#compliance holds significant importance in today's business landscape, ensuring equitable practices within organisations and in interactions with external stakeholders, partners and customers. The Department of #legalaffairs , which manages compliance in organisations, is instrumental in upholding fairness and governance standards within an organisation. It also ensures that the organisation's global compliance initiatives are well implemented and harmonised across regions to achieve the desired outcomes. The composition of this department is diverse, and the qualifications required vary. People managing portfolios in this department need experience in legal matters, risk management, audits, and compliance. Individuals with such backgrounds are difficult to find. Hiring for compliance roles requires carefully evaluating candidates' skills, knowledge, and experience. Organisations invest a lot of time and resources to find suitable candidates. While there are many ways, like internal referrals, networking or professional associations, to find suitable candidates, organisations can engage with platforms like Bridge Et Al. Explore our current opening for a legal counsel on our website- https://bridgeetal.com/ If you are a candidate possessing the appropriate qualifications, kindly submit your details on our website. Companies seeking candidates for such specialised roles can use our platform to connect with suitable experts.