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Law firms will be able to start nominating the compliance officers for legal practice and for finance and administration at the end of May – but the Solicitors Regulation Authority has admitted they may not all be approved by the start-date of 31 October.

Governance seems to be the Solicitors Regulation Authority’s new favourite word. It crops up in the most fashionable parts of the SRA Handbook – in her latest blog on COLPs and COFAs, Allison Wooddisse, head of Legal Futures Associate LexisPSL Practice Compliance, tries to work out what the SRA means when it talks about law firms’ governance.

Law firms need to establish policies on whistleblowing and the interest they pay to clients, according to a leading regulatory solicitor. Other key issues troubling firms include preparing a business plan and compliance with provisions on outsourcing.

Our latest round-up of news in brief has a breakdown of calls in 2011 to legal support charity LawCare, better news on PII, a defamation battle between two employment law consultancies, developments over conveyancing panels, and SIFA launching a consultancy.

Is a compliance plan a COLP’s need-to-have or simply a nice-to-have and, more to the point, what on earth is a compliance plan? Compliance plans are the Emperor’s New Clothes of the SRA regulatory regime. Everyone’s talking about them, but no-one wants to admit they can’t see them and they don’t know what they are. There’s a good reason for this – compliance plan requirements are virtually invisible in the SRA Handbook. Allison Wooddisse explains.