COLP/COFA separation could have had ‘unintentional consequences’ as SRA outlines next steps
Summary
The Solicitors Regulation Authority has paused its plans to separate compliance officer roles from those with unilateral decision-making powers and will instead work with stakeholders to explore alternatives. The regulator said the original approach may have had unintended consequences for smaller firms and sole practices, and any future implementation will be delayed to allow more review and consultation.
Why it matters
While this is a legal-sector regulatory issue, it is relevant to residential property surveyors because conveyancing firms and their compliance arrangements affect transaction flow, risk management and service delivery in property sales. Changes to solicitor governance and compliance requirements could influence how efficiently property-related legal work is handled.
Key points
- SRA has paused the COLP/COFA separation proposals.
- Working groups will be used to test alternative approaches with stakeholders.
- The regulator acknowledged possible unintended consequences for smaller firms and sole practices.
- Implementation has been pushed back from the planned January 2027 rollout.
- Law Society and Conveyancing Task Force welcomed the pause but want a risk-based review.
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