COLP & COFA Update - Regulation, Risk & Good Practice

Introduction

If you are a compliance officer, keeping up to date with your regulatory obligations is an ongoing challenge. This practical seminar will cover the latest developments in the regulatory landscape, explore the SRA's current areas of focus and consider what these changes mean for law firms in practice.

Designed for COLPs and COFAs, it will also benefit compliance managers, practice managers, MLROs, partners and anyone seeking a greater understanding of legal regulation, particularly those working in small firms and sole practices.

Delivered in-person, this session provides plenty of opportunity to work through practical scenarios, discuss real-life issues and exchange ideas on good practice with fellow delegates.

Drawing on extensive experience advising law firms on regulatory compliance, Joanna Morris will combine technical expertise with practical guidance to help firms navigate an increasingly demanding regulatory environment.

What You Will Learn

This course will cover the following:

• A refresher on the roles and responsibilities of the COLP and COFA, including the reporting regime and practical reporting scenarios
An update on the SRA regulatory landscape, including:
• Developments under the SRA Standards and Regulations
• The latest SRA Risk Outlook
• The AML Sectoral Risk Assessment
• Recent SRA reports and consultations, including complaints handling, AML and continuing competence
• Recent thematic reviews, including COLP and COFA compliance, first-tier complaints, high-volume claims and AML
• Training and competence within firms
• Recent SRA guidance and Warning Notices
• What current consultations indicate about the future direction of regulation, including client money
• Developing and maintaining an effective compliance programme
• What is on the horizon for COLPs and COFAs over the next 6-12 months
• Practical compliance scenarios and group discussion
• Recent regulatory decisions and stories making the legal press - and the lessons firms can learn
• Summary, key takeaways and questions