- Wednesday, 1 August 2012
Comparisons between the 2012 Olympics and the compliance officer for legal practice (COLP) nomination process are more obvious than you might think: both were years in the preparation, shrouded in mystery, beset by operational PR disasters and, ultimately, over in a flash. This month’s blog brings you live coverage of the five-month dash: that’s how long your COLP has to get the firm’s house in order before they become responsible for compliance. Like bog-snorkelling and extreme ironing, the five-month dash is a niche sport, unlikely to grace the Olympics, but pundits are predicting there’ll be a least 11,000 participants by the end of the year.
Tags: authorisation rules, client account interest, Client care, COLP, compliance, compliance officer for legal practice, conflicts of interest, equality and diversity, fee sharing, outsourcing, reserved legal activities, Solicitors Code of Conduct, Solicitors Regulation Authority
Posted in Blog
- Thursday, 19 July 2012
Since the introduction of the SRA Handbook, firms have been asking whether they should introduce or improve a file review system. Corinne Staves, a senior associate at Maurice Turnor Gardner LLP, considers the issues.
Tags: authorisation rules, COLP, compliance officer for legal practice, OFR, outcomes-focused regulation, Solicitors Regulation Authority, SRA Handbook
Posted in Features, Latest news, Solicitors
- Thursday, 19 April 2012
Governance seems to be the Solicitors Regulation Authority’s new favourite word. It crops up in the most fashionable parts of the SRA Handbook – in her latest blog on COLPs and COFAs, Allison Wooddisse, head of Legal Futures Associate LexisPSL Practice Compliance, tries to work out what the SRA means when it talks about law firms’ governance.
Tags: authorisation rules, COFA, COLP, compliance officer for finance and administration, compliance officer for legal practice, Solicitors Code of Conduct, Solicitors Regulation Authority, SRA Handbook
Posted in Blog
Legal education and training is not fit for today, let alone the future, and the approach of the main professional bodies to the need for greater accessibility and flexibility could not have been more different.
Since abolition of the common renewal date, practices have been free to choose when to renew their professional indemnity insurance. We estimate that around 30-40% now renew between March and April.