The true cost of compliance under outcomes-focused regulation

Case Study - 13/03/2013 : COFA, COLP, compliance, risk, risk & compliance, risk management, Finance, Risk & Compliance, Practice Management

For many law firms the financial cost of dealing with regulatory and compliance obligations is one of their main headaches. Many firms feel overwhelmed and underprepared for the requirements of effective management of a law firm and even...

COLPs, COFAs and SRA sanctions - 650 and counting

News Article - 13/03/2013 : COFA, COLP, compliance, risk, risk management, Finance, Risk & Compliance, Practice Management

Following on from the SRA’s warning earlier this year that solicitors who failed to disclose relevant information about their past on compliance officer applications could have their licences removed; and their plans to pursue hundreds of...

COFA conundrums: How do you know if your firm is in trouble?

Blog post - 08/03/2013 : COFA, COLP, compliance, risk, risk & compliance, SRA, SRA Accounts Rules, Finance, Risk & Compliance, Practice Management

The ultimate role of the COFA (as set out in the SRA Authorisation Rules) is to ensure compliance with the SRA Accounts Rules 2011, and to record any failures of compliance.

But the...

Litigation costs specialist unveils solution to help solicitors become Jackson compliant

News Article - 26/11/2012 : compliance, Costs Management, Risk & Compliance


  • Solicitors have only five months to prepare for the implementation of a mandatory new costs budgeting/management regime in April 2013 
  • Omnia is a web-based software solution for the production of costs budgets...

Briefing People - law firm leaders special November 2012

Resource - 02/11/2012 : BD, business development, CMO, compliance, COO, Finance, General, hr, HR director, IT director, KM, knowledge management, marketing, OLIL, operations, revenue, revenuetion, revenution, risk, Technology, Finance, Human Resources, Knowledge Management, Marketing & BD, Risk & Compliance, Technology, Practice Management

Top legal business services leaders, in their own words

Briefing's first interview-only special, including eight legal business services leaders talking about how they're helping drive their firms into...

Webinar: ECM Suite 2010 - Do more with your content

Event - 31/07/2012 : compliance, efficiency, Technology, Technology, Webinars

Find out more about how the OpenText ECM Suite 2010 drives efficiency, creates innovation and enables compliance through its unique focus on people, process and content.  

This webinar explains how the suite offerings complement each...

Confidential SRA research uncovers non-compliance and bad attitudes over complaints

News Article - 31/07/2012 : complaints-handling requirements, compliance, LSB, SRA, Risk & Compliance, Risk & Compliance

There is a “small but material rate of non-compliance” by solicitors with their complaints-handling requirements – and some bad attitudes towards complaints – confidential research by the Solictors Regulation Authority (SRA) has found....

ETSOS publishes searching truth on compliance

News Article - 10/07/2012 : compliance, conveyancers, SRA, Risk & Compliance, Risk & Compliance

Online search supermarket and conveyancing technology specialist, ETSOS, has published some useful guidance on how its ordering and quotation and referral systems can help conveyancers meet their compliance obligations.

Prepared by...

Law Society releases report on AML support and supervision

News Article - 04/07/2012 : AML supervision, compliance, Risk & Compliance, Risk & Compliance

For those solicitors who wonder whether they are the only ones putting in significant effort to comply with their AML obligations and whether anyone ever notices, the Law Society's annual report on AML supervision to HM Treasury should be...

Edmonds: failure to comply with staff diversity rules will tell its own story

News Article - 03/04/2012 : compliance, diversity, Human Resources, Human Resources, Risk & Compliance

Lack of compliance by law firms and chambers with the new requirements to publish information about the diversity of their staff “will in itself tell a story”, the chairman of the Legal Services Board has claimed.

Later this year...

Appeal court frees solicitor after quashing convictions for fraud and money laundering

News Article - 15/03/2012 : compliance, money laundering, Finance, Finance, Risk & Compliance

The Court of Appeal yesterday quashed the conviction of a solicitor jailed for fraud and money laundering in £650,000 worth of property transactions.

Benjamin Jason Cornelius, 38, from Swansea, had been found guilty of 16 counts...

COLP and COFA nomination process to begin “within six weeks”, says SRA

News Article - 15/03/2012 : compliance, regulation, SRA, Finance, Finance, Risk & Compliance


The form that allows law firms to nominate their compliance officers for legal practice (COLPs) and for finance and administration (COFAs) should go live in the next six weeks, the Solicitors Regulation Authority (SRA) said...

All aboard - Mediterranean jurisdictions and the challenges of compliance

News Article - 13/03/2012 : compliance, euro, trade, Marketing & BD, Marketing & BD, Risk & Compliance


Mick Jones looks back and forward to Mediterranean jurisdictions and the challenges of compliance

Financial Services Centre; any foreign trusts that do not register lose their tax-exempt status. The settlor may...

Residual client balances information sheet

Resource - 13/03/2012 : compliance, guide, regulation, solicitor account rules, SRA, Finance, Finance, Risk & Compliance

Residual Client Ledger Balances: Do You Have a Skeleton in the Closet?

There are very few firms of solicitors that do not have a problem, to a greater or lesser extent, with old residual balances on their clients’ ledger. For many, these...

Anti-money laundering training - Meeting the practical challenges - AML In Practice

Event - 05/03/2012 : Cardiff, compliance, law society, money laundering, regulation, Risk & Compliance, Risk & Compliance, Practice Management, Training and educational courses

As a Money Laundering Reporting Officer, you face constant challenges in ensuring that your firm stays compliant with anti-money laundering obligations. The Law Society’s highly popular AML training equips you to effectively manage your...