Rule 8.4: welcome relief for affected firms- but what now?
Summary
The SRA has delayed implementation of proposed Rule 8.4 changes beyond January 2027, giving affected firms more time to review governance and compliance arrangements. The article argues that firms should use this period to assess where authority sits, strengthen challenge routes, and document safeguards rather than waiting for any future rule change.
Why it matters
The issue is directly relevant to firms where ownership, management and compliance responsibilities overlap, including smaller and owner-managed practices. Surveyors working with or within regulated legal businesses should note the governance and client-money risk themes, as they may affect transaction workflows and compliance expectations.
Key points
- SRA has delayed the proposed Rule 8.4 changes beyond January 2027
- The proposals would have limited unilateral decision-makers from holding COLP and COFA roles
- Firms are advised to review governance, escalation routes and evidence of oversight now
- The Legal Services Board is pressing the SRA to improve regulatory effectiveness and risk identification
- The article emphasises proportionate safeguards rather than a one-size-fits-all approach
This is an RPSA summary of a publicly available article. The full content remains with the original publisher.
