A COLP Toolkit - Key Duties & Responsibilities
The key position of the Compliance Officer for Legal Practice (COLP) is vital in ensuring that the firm meets its regulatory obligations under the SRA Handbook. The COLP role also carries personal liability. How can the COLP best tackle their duties?
- What are the risks and responsibilities?
- What does the COLP have to do in practice?
- Can the COLP face personal liability?
What You Will Learn
This live broadcast session will cover the regulatory obligations of the firm, individuals within the firm and the key role of the COLP.
Eliminating the time and expense of travel, this live online session will enable you to participate in exercises and discussion of the key issues from your own office and you will be able to speak and contribute as if we were all in the same room together.
It aims to give practical advice and guidance on the role and responsibilities of the COLP and will cover the following:
- What’s expected of the COLP - Authorisation Rule 8
- Monitoring, recording and reporting breaches to the SRA
- Effective systems and controls - business management - Chapter 7
- The relationship between you and your regulator - Chapter 10
- Developing compliance plans and assessing risk
- Dealing with undertakings
- Anti money laundering - showing compliance at a thematic visit
- Data security and protection
- Conflicts and confidentiality - key concerns of the SRA
- Equality and diversity
- Business continuity
- Making and receiving referrals
- Insurance distribution
- The role of the COLP in the future
Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.