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Jack of all trades: The ever-expanding role of compliance officers under OFR

2014 and 2015 will be the years in which outcomes-focused regulation starts to bite for law firms’ compliance officers, says Jane Jarman

25 March 2014

The UK compliance agenda is starting to get very crowded. After endless rounds of training on outcomes-focused regulation (OFR), compliance officers could be forgiven if they had looked forward to putting their feet up. It looks as though they will be sorely disappointed. Far from a pause in the proceedings, it appears that the compliance agenda is starting to develop a steep trajectory all of its own. 2014 and 2015 look to be the years in which OFR starts to bite, not only in terms of the organisational aspects of law firms but also, increasingly, on their strategic aims.

Compliance is not glamorous. It is often see to be passive; the sole raison d’être is merely to check on the work being done by hard-pressed fee earners within the firm. Indeed, to some, this preoccupation with compliance can seem to be a hurdle which must be traversed so that the ‘real work’ can be done. Compliance can...

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