SRA pauses COLP and COFA separation rules after small-firm backlash
The Solicitors Regulation Authority paused rules requiring firms to separate the COLP and COFA roles from managers with unilateral decision-making power, the Law Gazette and Legal Futures reported on September 30, 2026. The Legal Services Board-approved rules, due from January 2027 for firms above turnover or client-money thresholds, are on hold while the SRA consults stakeholders. An SME firm alliance welcomed the pause but still plans a Law Society AGM no-confidence vote.
Text (Law Gazette) → · Legal Futures
Key points
- The SRA paused COLP and COFA separation rules approved by the Legal Services Board.Law GazetteLegal Futures
- The rules target firms above £600,000 turnover or £2 million client money.Legal Futures
- Aileen Armstrong said the SRA will consult and pursue the objective more proportionately.Law GazetteLegal Futures
- About 1,660 firms may be affected, including 431 sole owner-manager firms.Law Gazette
- An SME alliance still plans a Law Society AGM vote of no confidence.Law GazetteLegal Futures
Sources2 articles across 2 outlets
Filed under
RegulationUKSRA Authorisation of Firms Rules — COLP/COFA separationComplianceProfessional responsibilityRegulatoryFor practitionersFor governance