We are seeing more evidence of increasing levels of interaction between the regulator and law firms. You only need to open the back pages of the Law Society Gazette and read about the number of solicitors that have recently been subjected to a disciplinary hearing to appreciate what is happening.
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Financial Eye has developed a service that will assist COFAs deal with the burden of regulatory requirements. COFA plus incorporates all of the recording and reporting elements of the SRA Accounts Rules 2011, and a lot more.