ABS SRA COLPs and COFAs

Behind the many three or four letter acronyms we face every day there is, in this case, a serious purpose. For all non-ABS firms the need to nominate who will be the COLP and COFA opens on 31st May and closes on 31st July 2012. ABS firms will do so as part of their application process. As this applies to 11,000 law firms the timescale looks incredibly tight at two months. For more information visit the Solicitors Regulation Authority's website.