Law firms must balance independence with business knowledge when choosing who to appoint as their new compliance officer, say Stephen Ralph and Peter Scott
Although the Solicitors Regulation Authority (SRA) has delayed the deadline for law firms to nominate their new compliance officers, larger law firms in particular still urgently need to review their governance arrangements in order to effectively manage the conflicts that are likely to occur between a compliance officer for legal practice (COLP) on the one hand and management and/or partners on the other.
