SRA confirms compliance officer separation rules will not take effect in January
The Solicitors Regulation Authority said on October 22, 2026, that its rules separating law firm management and compliance officer roles will not come into force in January as planned. The regulator will run working groups and test alternatives first, and in the meantime will proactively supervise higher-risk firms on governance and compliance independence.
Text (Legal Futures) → · Law Gazette
Key points
- The Legal Services Board approved the rules over the summer, and the SRA paused them in September after objections from smaller firms.Law Gazette
- The rules would bar a manager with unilateral decision-making power from being COLP or COFA at larger firms.Legal Futures
- The thresholds are turnover above £600,000 or more than £2 million in client money.Legal Futures
- The SRA said firms will get an appropriate lead-in period once it decides on a final approach.Legal Futures
- Law Society president Brett Dixon welcomed the move and said affected firms must be represented on the working groups.Law Gazette
Sources2 articles across 2 outlets
Filed under
RegulationUKSRA Authorisation of Firms Rules — COLP/COFA separationProfessional responsibilityComplianceRegulatoryFor practitionersFor governance