Issue 34 - October 2019

Welcome to the latest issue of Compliance News, the newsletter for COLPs and COFAs.

We are getting ready to welcome more than 1,000 of you to the Compliance Officer Conference at the end of the month. Four weeks later, our Standards and Regulations will come into force, with new codes of conduct for individuals and for firms.

Ahead of this we are continuing roll out new guidance for you and your firm.

This year’s Compliance Officer Conference at the International Convention Centre in Birmingham takes place on 30 October. It is fully booked, but you can watch on the day via our YouTube channel.

Read more about: Watch our Compliance Conference online!

Our new Standards and Regulations will come into effect in four weeks. If you have not done so already, visit our new dedicated webpages to learn more about some of the key changes and access the support materials we are making available to help you prepare. The page features a dedicated section on what firms need to do, including how you can download the SRA clickable logo, which becomes a mandatory requirement from 25 November.

Read more about: Standards and Regulations – four weeks to go

We are aware that it is getting harder to obtain professional indemnity insurance. This isn’t a compliance issue in itself, but you do need to tell us if you have not yet secured cover so we can help you protect the interests of your clients.

Read more about: Have you been unable to renew your professional indemnity insurance?

Owners of closed firms should be aware that the Solicitors Indemnity Fund (SIF) is closing on 30 September 2020 and will not provide post six-year run-off professional indemnity cover after this point. That means that former firm owners should consider whether they need to make arrangements to cover for claims made after that date. This also affects those of you looking to close in the near future.

Read more about: Solicitors Indemnity Fund – cover after run-off

The Information Commissioner’s Office has produced guidance on keeping information safe in the event of a no-deal Brexit. Its website contains information on exchanging details, and an interactive tool has been developed to help you keep personal data safe.

Read more about: Brexit and keeping information safe

We are consulting on our next Corporate Strategy, which maps out our aims and objectives for the next three years. This is your chance to give your views on the priorities we have identified.

Read more about: Corporate Strategy, help shape our work

Modern Law Magazine is holding a series of roundtable events throughout November discussing compliance issues. These will be reported on in the December edition of the magazine. If you would like to join their expert panel, then contact Becky Edmundson via the link below for further information. The roundtables will be in London on November 5, Birmingham on November 7, Leeds and November 12 and Edinburgh on 14 November.

Read more about: Play your part in helping others