About CQS Conveyancing

Category: CQS Policy Templates

  • CQS Anti-Bribery Policy: Considerations

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    Simon Seaton
    in

    The Conveyancing Quality Scheme (CQS) is the recognised quality standard for SRA-regulated firms in residential conveyancing. It sets out the standards of competence, risk management, and client service levels expected of practices. An essential element of the CQS Core Practice Management Standard is the anti-bribery policy. This policy must clearly articulate the firm’s dedication to…

  • Operational Policies for CQS Conveyancing

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    Simon Seaton
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    CQS accredited firms must implement all required modifications to their firm’s policies, controls, and procedures (PCPs). It is essential to provide comprehensive training to staff regarding these changes, clearly documenting the effective date and the potential assessment regime in place, especially in anticipation of the CQS renewal. The adjustments to the CQS Core Practice Management…

  • Updating your CQS AML Policy

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    Simon Seaton
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    As a lawyer you could be forgiven for thinking that money laundering regulations are evolving every day. It is crucial for CQS accredited firms to diligently uphold their AML Policies controls and Procedures. This involves ensuring that all documentation is kept up to date in line with regulatory changes to optimise full compliance. Everyone in…

  • Preparing a Stamp Duty Land Tax policy

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    Simon Seaton
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    In light of the recent changes to the CQS Core Practice Management Standards (CPMS), it is imperative for CQS-affiliated firms to establish a comprehensive policy pertaining to Stamp Duty Land Tax, as stipulated in section 5.15. This adjustment underscores the importance of compliance with regulatory requirements. CQS compliance consultants strongly advise firms to review and…

  • CQS Risk Management Policy – Guidance

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    Simon Seaton
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    The largest chapter in the new CQS Standards is section five, and it is appropriately so since it addresses risk management. This aspect significantly influences all other parts of the Standards by mandating firms to maintain a compliance plan and a risk register as well as a comprehensive Risk Management Policy. Ensuring effective risk management…

  • How will you know when you have been selected for a CQS audit?

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    Simon Seaton
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    The Law Society CQS Team holds the responsibility of making decisions regarding practice assessments, actively and reactively selecting which practices will undergo an audit. The selection process may involve random choices or be based on data indicating a need for engagement. During the annual reaccreditation application process, practices submit extensive information to the Law Society.…

  • CQS Purchase of a Leasehold Policy Template

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    Simon Seaton
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    Back in 2019, the Solicitor’s Regulation Authority (SRA) undertook a Residential Conveyancing Thematic Review. This review emphasised that conveyancing firms were falling short in providing sufficient information to their clients regarding the various types of property ownership and potential buyer implications. Alarmingly, the report uncovered that 23% of observed firms failed to clarify the distinction…

  • How To Create A CQS Conflict Handling Policy Template

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    Simon Seaton
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    Section 5.7 of the 2022 Conveyancing Quality Scheme (CQS) Core Practice Management Standards (CPMS) mandates that CQS accredited law firms must possess a Conflict Handling Policy. Nonetheless, numerous SROs may lack the proficiency to craft these specific policies and procedures. This can present a significant challenge within the accredited firms’ operations. For further details, refer…

  • CQS Dealing with Lenders Policy – What’s the Point?

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    Simon Seaton
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    The primary objective of a Dealing with Lenders Policy is to make it clear that when acting on a purchase or remortgage, the lender is just as much your client as the borrower. Therefore, one has a professional duty to follow their instructions. This is reinforced in the 2022 CQS Core Pratice Managment Standards. When…

  • Indicators of Sanctions Evasion Risk for Solicitors

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    Simon Seaton
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    Red Flags (excuse the pun) are as follows: Requests to transfer assets between Russian national/dual-national family members Russian clients communicating changes to the beneficial ownership of their private investment companies (PICs) to non-Russian or dual national family members Use of trust arrangements, with circumstances of transfers calling into question whether the original owner retains indirect…