2005/6 CSR Report - Freshfields

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Conflicts management We were one of the first large international law firms to introduce a computerised conflicts management system. This system is staffed by a nineperson team in London that also provides out-of-hours support to take account of time differences in other offices. law and ethics Commitment to good governance In a partnership, each partner owns the business and is responsible for its success. Our success turns on our reputation. We depend on all of our people to present the best image of the firm to our stakeholders and the public. We encourage this through a firm commitment to good governance and the highest professional and ethical standards. The firm is committed to openness among all our people. We have a number of key policies that seek to protect or enhance issues such as client confidentiality, conflicts of interest and client care. This underlines our commitment to teamwork and trusted client relationships. We act for clients with a wide range of interests. We believe that every client deserves the best legal services available. Here we list some examples of policies demonstrating our commitment to responsible conduct. Regulation Our approach to risk management is a reflection of our high demands on ourselves as well as professional standards, government legislation and the expectations of society at large in all the jurisdictions in which we practise. We are subject to a number of statutory requirements relating to money laundering, proceeds of crime, competition and corporate governance and are bound by contractual and common law duties such as client confidentiality. Anti-money laundering We are committed to denying terrorists and other organised criminals access to the world’s financial systems. We operate a stringent client verification process and we have invested in people and technology to help us achieve these goals. A team of lawyers and compliance assistants is dedicated to the process of accepting new business and we have bespoke online procedures to ensure we comply with the relevant regulations wherever we operate. 4
Public law firm of the year <strong>2005</strong> JUVE Awards <strong>2005</strong> We contribute to anti-money laundering initiatives on behalf of the legal profession. We have collaborated with other firms to create a training application on the UK regulatory regime that we hope will become an industry standard. This Q&A based e-learning system guides users through various scenarios and provides information and explanations on the relevant aspects of anti-money laundering law. We provide regular in-house training sessions on the provisions of the Money Laundering Regulations 2003, the Proceeds of Crime Act 2002 and the Terrorism Act 2000 to all relevant people. In the UK and other jurisdictions in which we operate, we speak regularly to relevant industry bodies and regulators. We are involved in the International Bar Association and the Law Society’s anti-money laundering discussion group. Conflicts of interest and confidential information Because we work in many different jurisdictions, the potential for acting in a conflict of interest situation is very high. Each of the countries in which we operate has its own rules and accepted practice for dealing with conflicts of interest and client-confidential information. We have developed an enhanced version of our computer system for managing conflicts over the last 12 months. New search technology and changes to user interfaces and conflict reporting make the system faster and easier to use. We have increased the number of people in our risk and compliance team to provide additional support to partners and management in conflict analysis, decision making and management. Our conflicts analysts are qualified lawyers and act as dedicated intermediaries to enable partners to identify, research and manage issues in a time efficient manner. There is a frequent need for an independent intermediary to investigate issues where client confidentiality may be paramount. We will recruit further risk and compliance staff over the next year to ensure confidential client information is protected with integrity as required. This reflects not only the strict regulatory environment in which we work but also increased client awareness of, and reduced tolerance for, conflict issues. Client complaints Our complaints procedure follows the requirements laid down by the Law Society of England and Wales. We are committed to a full and fair investigation of any complaint as quickly as possible, providing a written explanation to the client of the findings of our investigation and any potential action proposed. Whistleblowing All our people are aware of our policy of reporting any perceived departure from the ethical and compliance standards that we set ourselves as a firm. This policy is in place only to deal with any serious wrongdoing and not to undermine the trust we have in each other. 5
Page 1 and 2: csr making a difference London offi
Page 3 and 4: senior partners’ statement Our ke
Page 5: M&A law firm of the year 2005 JUVE
Page 9 and 10: Global law firm of the year 2004 Ch
Page 11 and 12: Gender profile - worldwide employee
Page 13 and 14: Accident trend by quarter 30 25 20
Page 15 and 16: Barclays European Community Impact
Page 17 and 18: Pro bono award (over 100 fee-earner
Page 19 and 20: Saving energy We have saved 541 hou
Page 21 and 22: Activity Units 2001 1 2004 Good pra
Page 23 and 24: 2004/05 financial results Turnover:

2005/6 CSR Report - Freshfields

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