The Law Society is here to help you to adapt to the new Solicitors Accounts Regulations as they come into force.
1 July deadline
As many solicitors will be aware, the new Solicitors Accounts Regulations come into force on 1 July 2023. This update to the financial regulatory regime requires the implementation of a number of changes to a solicitor’s practice, so it is important that practitioners are fully prepared.
As the new Regulations come into force, the Law Society is here to assist you with your preparation and address any and all concerns.
Please send your queries to financialregulation@lawsociety.ie.
CPD talks
Due to the number of requests for a CPD talk on the regulations, the Law Society’s Regulation Department has been delivering a number of talks across the country. Investigating accountants from the Financial Regulation Section are available to attend local Bar Association CPD events as invited speakers, so contact your Bar Association to check if a talk has been arranged in your area. The Regulation Department will make every effort to facilitate further requests from your local Bar Association.
Separately, Law Society Professional Training are offering a complimentary online talk on the new Regulations through its LegalEd Talks hub. This is a practical guide for implementing necessary changes in your practice, delivered by Law Society Council member and Chair of the Society’s Regulation of Practice Committee, Garry Clarke. It qualifies for 0.5 CPD hours written as regulatory matters (accounting and AML compliance) (by eLearning) and can be accessed under the Regulatory Matters and Professional & Management Development Skills Series.
Please note: LegalED Talks – CPD Training Hub is offered through the independent LearnSkills platform. Login credentials on this platform may differ from those on lawsociety.ie and you may need to create an account. If you have technical or other queries, contact the Law Society Skillnet team on lawsocietyskillnet@lawsociety.ie.
An additional webinar is also being arranged in July by the Law Society Professional Training team. Attendees will have the option of either attending the webinar in real-time or watching a recording of the talk via the LegalED Talks Hub.
Here to help
The Law Society acknowledges that this change may cause alarm for solicitors who view the demands of regulatory compliance as increasingly onerous. With that in mind, we are committed to guiding and supporting you with any regulatory compliance issue you may have.
If you require assistance with navigating these updates to the financial regulatory regime or have any other queries about, please contact financialregulation@lawsociety.ie.
(This article does not form part of the Regulations and is for assistance only).