SRA approves first tranche of COLPs & COFAs
The Solicitors Regulation Authority (SRA) has issued its first tranche of approvals for the key posts of Compliance Officer for Legal Practice (COLP) and Compliance Officer for Finance
and Administration (COFA). All 11,000 law practices in England and Wales must ensure their COLP and COFA are approved by 31 December.
Samantha Barrass, SRA executive director, says: “That we’re now in a position to authorise the first round of compliance officers marks a huge step in the process. However, we are disappointed that, despite repeated requests, some firms have still not nominated nearly four months after the final deadline.”
