COFA Update 2026 - Compliance Challenges & Best Practice

Introduction

The role of a Compliance Officer for Finance and Administration (COFA) carries significant regulatory responsibility and critically, personal liability. A clear and up-to-date understanding of the regulatory framework, emerging risks, and enforcement trends is essential for anyone undertaking - or supporting - this role.

This comprehensive webinar is designed for both new and experienced COFAs, as well as those who assist them, providing practical insight into current compliance challenges and best-practice approaches to managing financial and regulatory risk within law firms.

What You Will Learn

This webinar will provide practical guidance and analysis on:

• COFA responsibilities
• Key duties, record-keeping obligations, and common reporting pitfalls
• Banking facilities and client accounts
• How and why firms are being caught out when providing banking facilities, with real-world examples
• Key risks under the SRA Accounts Rules 2019
• Areas of heightened scrutiny and how to mitigate exposure
• Recent regulatory guidance
• Updates from the Solicitors Regulation Authority, including guidance and warning notices
• Lessons from enforcement activity
• What recent investigations and sanctions reveal about regulatory expectations
• Regulatory leadership and compliance reporting
• How changes in SRA leadership are influencing the approach to compliance, reporting, and enforcement
• Future AML developments
• What the proposed transfer of AML supervision to the Financial Conduct Authority could mean for COFAs and firms