Closing a Client File - How Law Firms Can Minimise Risk

Introduction

File closure is a key professional responsibility with the SRA and insurers.

Aimed at supervisors, managers and partners, this webinar will assist you in managing the risks around recent clients and file closure.

Presented by compliance expert Paul Bennett, this webinar will reflect on the changes brought about by the SRA Standards and Regulations 2019, the revised SRA guidance and the impact on professional indemnity insurance risks.

What You Will Learn

This webinar will cover the following:

• Who owns the closed file?
• Have you fulfilled the scope of the work from the engagement letter?
• Why the SRA’s 2019 Standards and Regulations should be reflected in your approach to file closure
• The SRA Solicitors Accounts Rules 2019 and the risk of residual client balances
• Your closure policy - what to include and think about
• Your risk management obligations
• PII and residual risks
• Monies and assets your key function!
• Discharge of undertakings
• Return of documents
• Deletion of data
• How to gain real value from the process of closing files
• Closing a file risk assessment
• Notice to clients
• Do you want to act for the client again?

This pre-recorded webinar will be available to view from Friday 7th March 2025

Alternatively, you can gain access to this webinar and 1,700+ others via the MBL Webinar Subscription. Please email [email protected] for more details.