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A better way

31 March 2011 / Tony Guise
Issue: 7459 / Categories: Features , Regulatory
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Tony Guise welcomes the advent of COLPs & COFAs

The changes which alternative business structures (ABSs) will bring about in the market for the delivery of legal services and to those firms who may not even be considering entering into an ABS remain the stuff of conjecture and nightmare-scenarios abound. However, there is a more tangible change taking place on 6 October 2011 to the way all legal service providers will be required to operate in the future.

The new Solicitors Regualtion Authority (SRA) handbook, which comes into force on 6 October requires both ABSs and solicitors firms to appoint a compliance officer for legal practice (COLP) and a compliance officer for finance and administration (COFA) in order to become authorised. What will the implications of these new roles be and what effect are they likely to have upon the regulated community? Both are creations of the Legal Services Act 2007, where they  have the name head of legal practice and head of legal compliance—the SRA has changed the titles and extended the requirement to

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MOVERS & SHAKERS

Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

NEWS
Robert Taylor of 360 Law Services warns in this week's NLJ that adoption of artificial intelligence (AI) risks entrenching disadvantage for SME law firms, unless tools are tailored to their needs
The Court of Protection has ruled in Macpherson v Sunderland City Council that capacity must be presumed unless clearly rebutted. In this week's NLJ, Sam Karim KC and Sophie Hurst of Kings Chambers dissect the judgment and set out practical guidance for advisers faced with issues relating to retrospective capacity and/or assessments without an examination
Delays and dysfunction continue to mount in the county court, as revealed in a scathing Justice Committee report and under discussion this week by NLJ columnist Professor Dominic Regan of City Law School. Bulk claims—especially from private parking firms—are overwhelming the system, with 8,000 cases filed weekly
Charles Pigott of Mills & Reeve charts the turbulent progress of the Employment Rights Bill through the House of Lords, in this week's NLJ
From oligarchs to cosmetic clinics, strategic lawsuits against public participation (SLAPPs) target journalists, activists and ordinary citizens with intimidating legal tactics. Writing in NLJ this week, Sadie Whittam of Lancaster University explores the weaponisation of litigation to silence critics
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