Forte's RegTech Project

We are currently running a research initiative exploring the regulatory landscape of law firms to help improve it with the input of technology.

If you are a Compliance Officer or Risk Manager and would like to take part in the research, please email us at: research@fortemarkets.com

Phase 1 of the exercise is to dive into the regulatory landscape for law firms in England & Wales, specifically looking at the compliance function and aiming to identify pain points. This is in collaboration with the Solicitors Regulation Authority (SRA).

Subsequent phases will cover the United States, the United Arab Emirates amongst other key jurisdictions to help provide a global view of the compliance space for law firms.

"Supporting the development and uptake of innovation and technology within the legal sector is a key priority for the SRA, se we welcome research of this kind which provides greater insight into this area. The findings, especially regarding potential barriers to smaller firms accessing law tech, echo the emerging trend we are also finding in our own research - the result of which will be published this summer."
SRA

We are currently looking to liaise directly with compliance officers (COLPs and COFAs) to understand the current regulatory processes and procedures of law firms and identify pain points where technology can help.

We aim to keep your involvement and time commitment to a minimum, knowing all our participants are extremely busy. Taking part in the project should not take you more than 3 to 4 hours of input time over the next few months.

If you would like to complete our survey regarding AML and CTF, please do so through the following form:

Click here to complete the survey

 

Watch our Managing Director, Shak Ashraf, speak at the SRA Compliance Conference 2020

LEGAL TECHNOLOGY & INNOVATION IR-LAB

The research lab aims to become an independent lab, differentiating from the current landscape of incubators, focusing on a research driven innovation approach.

The lab will focus its efforts on problem statements from the industry which are researched and based on the findings and MVP and subsequent incubation process will commence. The lab will initially have a GCC focus, with cohorts across UAE, Saudi and Bahrain over he course of a typical year.

With the current pandemic we aim to alunch with virtual collaboration and sprints to support our partners on remediating their pain points. Forte Markets will work alongside leading law firms, academic institutions, law societies, tech firms and consultancies to collaborate on projects.

To ensure a complete offering the lab will comprise an incubation only option, as and when start-ups apply for entry. The lab will also look at start-ups from their international network i.e. UK legal lab graduate start-ups, using the GCC lab as a starting point for feasibility research on the potential need of their offering in the region.

Watch this space for upcoming announcements & updates on the Legal Technology & Innovation Institute Legal Lab.