Reporting to the SRA - A ‘How To’ Guide for COLPs & COFAs

Introduction

The SRA expect COLPs and COFAs to actively manage risk and to report breaches and individual concerns to them in a consistent and credible manner.

How can the COLP and COFA best tackle their reporting duties?

• What are the risks and responsibilities when reporting?
• What do the COLP and COFA have to do in practice?
• How to manage the over and under reporting risks
• When the COLP or COFA may face challenge or investigation where no report is made

This webinar will cover the reporting obligations of the firm, individuals within the firm and the key roles of the COLP and COFA.

The webinar will also offer a practical review of the compliance officer function, discuss the evolving expectations from the SRA and then zero in on managing the risks of a reporting decision.

What You Will Learn

This webinar will cover the following:

• What is expected of the COLP and COFA?
• Authorisation rules 8 and 9 and the impact of these in practice
• Code of Conduct for firms Standard 9 - what does it mean to you as a COLP or COFA?
• Firm-based regulation - identifying fault
• Monitoring, recording and reporting breaches to the SRA
• Effective systems and controls - identifying breaches
• The relationship between you and your regulator
• The role of legal privilege in reporting
• Self-reporting and reporting others
• What constitutes a serious/material breach?
• Raising concerns - SRA guidance
• SRA enforcement policy
• Priority risks for the SRA
• Whistleblowing
• The role of the COLP and the COFA in the future

This pre-recorded webinar will be available to view from Thursday 17th April 2025

Alternatively, you can gain access to this webinar and 1,700+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.