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COLP eligibility changes: Time to review your compliance structure?
Changes to COLP and COFA eligibility could require some SRA-regulated firms to review their compliance structures. This guide explains who may be affected and the practical steps to consider.
What could it mean for your firm?
Changes to COLP and COFA eligibility are expected to come into force from early 2027, with further SRA guidance still to come. The changes focus on independence, particularly whether an individual has the authority to unilaterally make or direct significant management decisions.
Our guide explains which types of firms and roles could be affected, why effective COLP and COFA arrangements matter, and what firms can do now to review their governance structures. It also considers the position in Scotland and the wider importance of accountability, financial controls, risk management, and independent compliance oversight across the legal sector.
