Press Announcement: Depositit COLP/COFA Solution
London, UK May 22, 2012 – By the summer of 2012, every solicitors practice in England & Wales will need to nominate a Compliance Officer for Legal Practice (COLP) and a Compliance Officer for Finance and Administration (COFA). Their role will be to ensure the firm they work for is maintaining and following compliance guidelines as set out by the Solicitors Regulation Authority (SRA).
The SRA introduced these measures in 2011 and law firms are busy tying up loose ends and nominating their chosen candidate to complete all the required forms by the deadline.
Depositit are leaders in the field of Business Continuity supporting IFAs and Mortgage Brokers particularly over the past years when the FSA introduced similar compliance regulations.
The key Depositit service is a compliant data backup solution that ensures all law firms using it conform to regulatory procedures. Core data is fully encrypted at source, stored safely off-site and remains within UK shores at all times.
Additional compliance services that Depositit offer include an Emergency Alert service and Secure Online Filing to store Deeds and Wills safely for law firms and their clients.
Depositit Sales Director, Anthony Ryb comments:
“Whenever a regulator introduces changes it can be costly and worrying for the firms needing to adhere to the new measures. Depositit has experience helping regulated firms
ensure they have adequate business continuity processes in place in order to comply in this area. Newly
appointment COLP and COFA candidates will have a lot of work to do and putting in place the Depositit backup solution will remove one major item from the list”
ENDS
For further information, please contact:
Anthony Ryb, Sales Director – Depositit
78 York Street, London, United Kingdom W1H 1DP
W: www.depositit.com
T: 0845 458 1360
