In law’s firm grasp where trust is a must,
Compliance not just advice, but a binding thrust.
Regulated firms in England and Wales,
Heed the SRA’s stern warning tales.
Money laundering’s shadow, regulations tight,
Since twenty-seventeen’s legislative light.
Yet files half-filled, risk assessments miss,
A call to action, a compliance kiss.
Through SRA’s lens, inspections are wide,
Revealing where systemic issues reside.
A lack of diligence, a due process lost,
In client checks, a line uncrossed.
Expectations clear, the SRA’s voice loud,
At client start, risk assessments avowed.
Due diligence must follow, an informed path tread,
With ongoing vigilance, by foresight led.
A template offers a structured guide,
For bespoke risks, that may abide.
But tailor and fit, each firm’s unique play,
In matters of risk, make no delay.
No mere checklist but a map to steer,
By thoughtful design, we mitigate fear.
Assessing each risk with precision and care,
In the digital age, a compliance affair.
Technology lends a hand, so firm and sure,
Innovation beckons, its promise pure.
To tailor risks, not a tick-box bore,
But a crafted defense, against compliance lore.
Each client, each matter, a risk to appraise,
With regular reviews, adjusting ways.
For non-compliance, the cost is steep,
A firm’s reputation, a trust to keep.
So law firms, take heed, in your noble run,
Against dirty money’s darkness, be the dazzling sun.
With help and guidance, your practice refine,
And in the galaxy of law, let your firm’s star shine.