About the Committee
The Regulation of Lawyers' Compliance Committee focuses on the regulation of law firms and lawyers from the business lawyers’ perspective and from an international viewpoint.
This committee was created after extensive discussion with the PPID Officers and the officers of the Law Firm Management Committee.
This committee has been formed to meet the growing interest of IBA members in the regulation of law firms and lawyers (and the related compliance obligations and the risks of failure to comply).
As lawyers and members of law firms we are all subject to regulation of one form or another; the impact of this regulation is increasing and not only challenging some of the basic ethical positions within the profession but also requiring us to incur significant expenses and time to ensure we comply.
Historically, regulatory debates have lacked a global perspective and, more particularly, have lacked a business lawyer’s perspective.
The IBA, with its core membership of business lawyers, should play a critical role in the developing field of the regulation of lawyers.
The committee provides a forum where members can discuss, debate and influence legislation impacting the practice of law, particularly in light of the ever-expanding multi-jurisdictional approach to the regulation of law firms and lawyers.
The Anti-Money Laundering and Sanctions Expert Subcommittee focuses on anti-money laundering legislation as it impacts lawyers. This committee works closely with the Bar Issues Commission and the Law Firm Management Committee.
The committee will address the practicalities of complying with a wide range of professional risk management and compliance issues including:
- Anti-money laundering
- Bribery and corruption
- Engagement letters and terms of business in a multijurisdictional context
- Compliance issues with which law firms are likely to be confronted when considering mergers and alternative business structures (ABSs)
- Data protection and information security risks
- Conflicts and confidentiality
- Professional indemnity insurance cover
- Referral and outsourcing arrangements
- Design and implementation of risk management approaches, systems and policies
- Insider dealing and market abuse procedures
- Outside business interests
- Managing licensing, registration and practice requirements – lawyer and entity level
- Complaints and claims handling
- Audit programmes
- Regulatory notices or requests for disclosure
- Risk management training
- Managing regulator audits and practice visits
- Internal investigations and external reporting
- Reputational risks
If you have any questions or would like to become involved in the work of the committee, please contact one of the Committee Officers.
IBA Annual Conference Miami 2022
30 Oct - 04 Nov 2022
IBA Annual Conference 2023
29 Oct - 03 Nov 2023
Subcommittees and other groups
The Regulation of Lawyers' Compliance Committee also coordinates the activities of the following subcommittees/working groups.
- Anti-Money Laundering and Sanctions Expert Subcommittee
- IBA Working Group on Lawyer-Client Confidentiality
- Regulation of Lawyers' Compliance Committee Advisory Board
Disclosure and reporting