Regulatory/Compliance

How do conflicts work?

Conflicts work in exactly the same way as they do at conventional firms. The Compliance team carries out conflict checks on all new clients and, in the event of a potential conflict, our risk and compliance manager will speak to the lawyers working on the matter and work with them to ensure that a conflict is avoided. In cases of commercial conflict, our Compliance team will review the details and, wherever possible, ensure that we can meet the expectations of a client seeking Keystone’s assistance whilst also meeting the expectations of the other client involved.

What’s the difference between ‘partners’ and ‘consultants’?

There is no difference in the way in which we engage our lawyers. The SRA rules changed last year, allowing us to offer the title ‘partner’ to our lawyers. Prior to that change, anyone using the title ‘partner’ would automatically assume regulatory responsibilities for the way in which the firm was run. The change has meant that those responsibilities no longer automatically attach to the title ‘partner’; rather, the SRA looks at who in reality is responsible for compliance. As a result, our lawyers can choose whether they would like the title ‘partner’ or ‘consultant’.

If you have any questions regarding your circumstances, which are not covered in the above, please contact us on 020 3319 3700 or click here to fill out our contact form.