Following the introduction of the SRA’s new Standards and Regulations on 25 November 2019, the role of law firm compliance officers has never been more important. Andy Poole looks at the role and responsibilities of Compliance Officers for Finance and Administration (COFAs).
Legal Sector partner, Andy Poole explains what the implications will be, for law firms, if interest rates become negative, particularly in relation to the client money held.
As specialist advisors to the legal sector, we have helped many firms to start practising. In the last three editions, I covered the top considerations that individuals should take into account in starting a new law firm; the importance of planning; the business structure of the firm; and tax considerations. In this edition, I look into the application/recognition process with the SRA.
A combination of the COVID-19 pandemic, uncertainty around the outcome of Brexit negotiations, a potential recession and an already hardened PII market in 2019 could make this one of the most challenging years for solicitors since the move to open the market in 2000.
The Legal Sector Leadership Team, Andy, Tom and Rosy give their views on the impact Covid-19 is having on law firms and discuss what firms should be doing now and what the future may hold for them.