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Regulatory tracking — July 2019
Staying ahead of new regulations can be challenging. Regulators expect firms to identify and react to all the emerging regulatory changes that affect them. Since our last regulatory update in June, a new government has been formed in the UK, a consultation has been launched on workplace harassment and other policies are on the horizon.
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Help us design better mental health training
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As part of our mission to create a safer, fairer, and better world, VinciWorks is developing innovative new mental health and wellbeing training specifically designed for organisations like yours.
We believe employee training on mental health and wellbeing, as well as occupational safety, should meet three vital requirements:
- Encouraging personal responsibility at work
- Supporting a culture of caring for others
- Promoting safe and responsible use of the work environment
Like all our products, our mental health and wellbeing suite is focused on providing timely, relevant and practical information that fits in today's workplace and meets your needs.
Take a few short minutes to fill out our survey and shape the future of mental health and wellbeing training at work:
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On 25 November 2019 the new SRA Standards and Regulations come into effect. Replacing the SRA Handbook, the SRA Standards and Regulations stipulate the behaviours, standards and requirements expected by solicitors and other SRA regulated people.
By September 15th, VinciWorks will release a series of online courses covering the key, relevant sections of the Standards and Regulations.
The whitepaper below details the key changes in the regulations and explains what the new VinciWorks training will include.
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Annual declarations reporting portal
VinciWorks has studied the annual declarations process at tens of firms to build a best-practice solution that saves time, delivers completions faster and can be deployed in less than a week. Omnitrack's annual declaration reporting portal allows solicitors to easily report their involvement in other businesses. Any potential conflict of interest is automatically flagged, allowing conflicts teams to assess whether the employee's involvement is permitted.
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HMRC releases draft regulations and consultation on DAC6
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HMRC has just released its draft regulations on implementing the 6th Directive on Administrative Cooperation, known as DAC6, into UK law. From 1 July 2020, taxpayers and their advisers are required to report details of certain cross-border arrangements that could be used to avoid or evade paying tax to HMRC. HMRC has been engaging with interested parties over the last year to identify the best approach for implementing this measure.
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Are your AML identification policies discriminatory?
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Which actions set off the money laundering alarm bells at your workplace? Why does a transgender person changing their last name seem to cause more concern to banks than a woman who recently got married? VinciWorks spoke with over a dozen transgender people about their experiences of dealing with the ID requirements of banks.
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UK Government launches consultation on workplace harassment
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In light of high-profile harassment cases brought to light via the media and the #MeToo movement, the government has launched a consultation to review the enforcement and effectiveness of the Equality Act 2010. An important aspect the government has noted is that harassment can relate to any protected characteristic, so any strengthening of the laws against sexual harassment would likely apply to harassment and discrimination against other protected characteristics such as race, religion and LGBTQ people.
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About VinciWorks
VinciWorks is the definitive authority in compliance training and software. With over 250,000 users across 70 countries, our training is used by leading corporations in every sector, including 60 of the largest 100 law firms in the world.
The VinciWorks compliance training catalogue provides practical, interactive and customisable training available in multiple languages. The courses are updated regularly to meet evolving regulatory legislation.
The catalogue includes the following courses:
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