LBS Protect offers a comprehensive regulatory compliance and risk management service for law firms. It provides firms with an audit, written report and recommendations to improve compliance. Firms also receive assistance achieving Lexcel accreditation, CPD training, ongoing support, and help managing professional indemnity insurance to reduce costs and risks. Joining LBS Protect helps firms practice law confidently and profitably in accordance with regulations.

1. LBS Protect total protection solutions
 Total confidence and assurance
 Improved Profitability
 Regulatory Compliance and Risk Management
Audit
 Report and Remedial Action
 Lexcel Accreditation and Best Practice
 CPD Accredited Training
 Ongoing Support
 Professional Indemnity Insurance
 Discounted Rates

3. LBS Legal Brookfield Court Selby Road Leeds LS25 1NB 0113 385 4483 www.lbslegal.co.uk
”
Total Confidence and Assurance Probably the best
practice management
LBS Protect is the most comprehensive risk
decision we have ever
management and regulatory compliance service taken
available to law firms in the UK.
LBS Protect is a unique all-inclusive and cost
”
effective way to ensure that your firm complies
with the professional rules, effective risk
Improved profitability
management and obtains Lexcel accreditation with
minimum fuss. Our experts understand law firm finances and we
Numerous firms have already found that joining are committed to ensuring maximum
LBS Protect eliminates any threat of enforcement profitability for your business. We have helped
action by the SRA, helps to reduce professional hundreds of firms across the UK achieve Lexcel
indemnity insurance premiums and reduces Accredited practice management standards and as
complaints to the Legal Ombudsman. a result of our services, improved
profitability.
LBS Protect membership gives you the confidence
to practice law and service your clients without the Here are some examples:
threat of disciplinary or regulatory sanctions and A partner in a three partner practice was able to
you are secure in the knowledge that all of the increase her billing by 40% because our team
major risks to your business have been identified, handled all of the quality, risk, and indemnity
proactively managed and controlled. issues that were occupying all of her time.
A niche commercial litigation practice increased
its turnover by 5% as a direct result of the systems
” that our advisers implemented to ensure accurate
time recording.
Joining LBS Protect has A large number of clients achieved substantial
enabled us to manage our reductions in their professional indemnity
business effectively. We insurance premiums as underwriters
acknowledged that they were making a sustained
truly appreciate the hard and serious attempt to manage risk.
work of everyone at LBS
All of our clients were able to reduce their overall
Legal spend on CPD training as a result of the free
” training provided through LBS Protect.

4. LBS Legal Brookfield Court Selby Road Leeds LS25 1NB 0113 385 4483 www.lbslegal.co.uk
Features
On joining LBS Protect, clients will benefit from the knowledge and experience of a specialist team of pro-
fessional accredited consultants who will provide:
 A regulatory compliance and Risk Management Audit ;
 A full written report of findings and recommendations for remedial action ;
 Lexcel Accreditation and Best Practice guidance and implementation ;
 CPD accredited training ;
 Ongoing support with access to a dedicated 24 hour helpline .
As a member of LBS Protect, existing clients are entitled to discounted rates for other LBS Legal services
and a range of other benefits.
Regulatory Compliance and Risk
Management Audit, Report and
Remedial Action
Over 70% of law firms audited by the Solicitors Our detailed on-site audit will include file reviews,
Regulation Authority in 2010 had either serious examination of written procedures, policies and plans,
breaches of SRA rules and regulations or analysis of working practices and processes, inspection
required a referral to another part of the SRA of central records, interviews with personnel and a
for further investigation. The consequences of detailed analysis of other operational, strategic, finan-
such findings will undoubtedly cause significant cial, negligence and contractual risks.
damage to your reputation, your financial
security, your business and your insurability. The audit is followed by a comprehensive report, which
includes detailed commentary on all aspects of your
A panel of high-level brokers and underwriters practices compliance the rules and the guidance to the
representing qualifying insurers, responding to rules and with other regulations referred to within the
an SRA Public Consultation stated that a rules, for example the Money Laundering Regulations
‘majority of legal practices submitting insurance 2007.
proposals have failed to identify and remedy a The report is a rigorous and meticulous analysis of your
string of vulnerabilities which collectively compliance and risk management. In addition to
present a degree of risk which is sufficient to identifying the breaches; it shall benchmark your
double or treble the amount of quotation they practice against others, include a regulatory and risk
currently receive’. ‘likelihood and impact’ study, and provide detailed
recommendations to remedy the breaches.
The simple fact is that the majority of legal
practices are exposed to serious regulatory The remedial work which our team shall then
sanction and to unnecessarily costly indemnity undertake means that you can rest assured that an SRA
insurance premiums. Therefore it is our first visit poses no threat to your livelihood and that your
priority to ensure that you are not committing insurance position shall be in the best place possible.
any breaches of the professional rules or
allowing unnecessary serious risks to continue
unchecked.

5. LBS Legal Brookfield Court Selby Road Leeds LS25 1NB 0113 385 4483 www.lbslegal.co.uk
Lexcel Accreditation and Best
Practice Upon accreditation, your practice shall be
legitimately able to hold itself out to clients as
Lexcel Accreditation is now widely acknowledged having independently certified excellence in client
as the simplest way to lower your professional care, your standards of risk management, regulatory
indemnity premium, and reduce the number of compliance and quality control shall be exemplary,
complaints and claims against your firm, secure and your exposure across all areas of financial,
your LSC contract for firms conducting publicly regulatory, operational, reputational and strategic
funded work, retain lender panel status, ensure risk shall be within levels acceptable .
compliance with the Solicitors Code of Conduct
2007, reduce accidental involvement in money CPD Accredited Training
laundering or mortgage fraud, and comply with
your obligations under data protection and
LBS Legal is authorised by the Solicitors Regulation
equality and diversity laws.
Authority as an external CPD Course provider.
All members of LBS Protect receive CPD accredited
If Lexcel is implemented intelligently there is also
training free of charge in our areas of expertise,
potential to improve your efficiency, reduce your
including:
overheads, improve your marketing and business
planning, raise client perceptions of your firm, and
 Client Care
obtain better instructions from more lucrative
 Data Protection
clients.
 Equality and Diversity
The business case for obtaining Lexcel  Anti-Money Laundering
accreditation has never been clearer and firms  Mortgage Fraud
who are not seeking accreditation are running a  Management Skills
serious risk of being left behind.  Practice Management
 Complaints Handling
We have more authorised Lexcel specialists than  Financial Services for Solicitors
any other provider in the UK and have the
expertise to design, draft and implement all of the We are also able to design and present bespoke
plans, procedures, processes and practices you courses to meet your needs. All of our training
will need. We do not merely provide packages are offered at your offices in order to
templates and leave you to do the hard work; we reduce your costs.
take care of the entire process up to and including
attending to Law Society paperwork and arranging
your assessment.
Ongoing Support
In addition to Lexcel accreditation, we ensure that LBS Protect members benefit from ongoing support
your practice is following all applicable best from our expert advisors after their initial
practice guidance as set out in the Law Society assessments and report.
Practice Notes, advice booklets, or in SRA Our advisors shall answer telephone and email
Warning Cards or guidance, or in other advice enquiries and or attend your offices to provide
from regulatory bodies such as the Data support to all of your employees in relation to risk
Protection Commissioner, Health and Safety management, regulatory compliance, Lexcel
Executive, Legal Ombudsman, Equality and Human accreditation or professional indemnity insurance.
Rights Commission and the Serious Organised
Crime Agency. We are available via our dedicated helpline 24 hours
a day, 7 days a week to assist with your queries or to
support you through difficult situations.

6. LBS Legal Brookfield Court Selby Road Leeds LS25 1NB 0113 385 4483 www.lbslegal.co.uk
Professional Indemnity Other LBS Legal services at
Insurance preferential rates
Almost all of the work that we do throughout the Members of LBS Protect receive automatic
year is calculated, amongst other things, to preferential rates on the full range of other services
improve your insurance position. offered by LBS Legal should they be required.
The process of acquiring indemnity insurance is If you do need to engage our additional services you
highly complex and very challenging in a tough will receive 30% discount on our standard rates.
market. As part of our service: Our additional services include:
 We ensure that you have the management  Membership of the Law Society Conveyancing
systems in place to capture all relevant Quality Scheme
information and data on an ongoing basis  Outcomes Focused Regulation Handbook
 We research the market thoroughly  Incorporation or conversion to a Limited
 We prepare professional proposals and Liability Partnership (LLP) or Legal Disciplinary
attach additional information designed to Practice (LDP)
impress  Conducting due diligence of the ‘other side in
 We recommend brokers, based on their law firm mergers and acquisitions and merger
track record, their access to markets and and acquisition consultancy
their FSA status  Successor practice advice
 We manage disclosure of sensitive or  Law firm set-up in England and Wales,
‘problem’ information Scotland, or overseas.
 We negotiate with the insurers, help you  Business development and marketing
consider offers and examine terms consultancy
LBS Indemnity  Financial Services for Solicitors
 SRA and Law Society Accreditation Scheme
Members of LBS Protect have access to an applications and appeals
exclusive indemnity insurance protection policy  Dealing with SRA investigation and
specifically designed to protect clients in the event Enforcement issues and Defending SRA
of disciplinary action from the Solicitors Prosecutions before the Solicitors Disciplinary
Regulation Authority. Tribunal
 Expert Evidence Service for Solicitors charged
The £200,000 indemnity takes effect if the client with fraud and dishonesty offences
law firm is prosecuted by the SRA and covers not
 Appeals and complaints Against the SRA and
only the firm’s own legal costs, (including those in
Legal Ombudsman.
any appeal to the High Court and Court of Appeal),
but also those of SRA, if a costs order is awarded
Our consultants are on-hand to discuss and
against the firm. Controversially, the indemnity
advise on any of our additional services that we offer
also covers any SRA fine.
to LBS Protect clients.

7. LBS Legal Brookfield Court Selby Road Leeds LS25 1NB 0113 385 4483 www.lbslegal.co.uk
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8. Brookfield Court
Selby Road
Leeds
LS25 1NB
T: +44 (0)113 385 4483
E: enquiries@lbslegal.co.uk
W: www.lbslegal.co.uk
Legal Business Support Limited trading as LBS Legal is incorporated and registered in England and Wales.
Company Number 06901745. VAT number 971 056 911. Registered office 366 Leeds Road Bradford West Yorkshire BD3 9QX.
©2011. LBS Legal. All rights Reserved.