On LDS.org, it says:
As members of The Church of Jesus Christ of Latter-day Saints, we are blessed to be led by living prophets—inspired men called to speak for the Lord, as did Moses, Isaiah, Peter, Paul, Nephi, Mormon, and other prophets of the scriptures. We sustain the President of the Church as prophet, seer, and revelator—the only person on the earth who receives revelation to guide the entire Church. We also sustain the counselors in the First Presidency and the members of the Quorum of the Twelve Apostles as prophets, seers, and revelators.
However, in Luke 16:16, it says:
The Law and the Prophets were proclaimed until John; since that time the gospel of the kingdom of God has been preached, and everyone is forcing his way into it.
~ New American Standard Bible (NASB)
It would seem that if one holds to Biblical Christianity, your position should be that Jesus Christ fulfilled the Law when he was crucified and put an end to the need of prophets, with John the Baptist being the last one.
Would this be accurate to say? And are there any other Scripture references in the Bible that say that we no longer need living prophets?