Use this checklist to verify your law firm meets all annual SRA regulatory obligations. Most deadlines fall between October and November each practising year.

All solicitors have submitted practising certificate renewal applications via mySRA before 31 October
Firm renewal form submitted via mySRA before 31 October
Practising certificate fees paid for each solicitor
Firm periodic fee paid (invoiced by turnover band)
Individual and firm details on mySRA are accurate and up to date

PII policy renewed with an SRA participating insurer before 1 October
Policy meets SRA Minimum Terms and Conditions
Firm name on PII certificate matches mySRA and Companies House exactly
Run-off cover confirmed for any ceased areas of practice
PII details updated on mySRA

Compensation Fund contribution paid when invoiced by the SRA (usually with firm renewal)
Contribution amount verified against current SRA schedule

Determined whether an accountant's report is required (firms holding or receiving client money)
If required, report obtained from a reporting accountant and delivered to the SRA within 6 months of the accounting period end
Report covers compliance with the SRA Accounts Rules

Firm-wide AML risk assessment reviewed and updated at least annually
AML policies, controls, and procedures updated to reflect current risk assessment
All staff completed AML training appropriate to their role within the past 12 months
Beneficial ownership information for the firm is current

COLP has completed and recorded annual compliance review
COFA has completed and recorded annual financial compliance review
Any material breaches reported to the SRA promptly
COLP and COFA details on mySRA are correct (update immediately if either role changes)

COLP and COFA Roles and Requirements

Compliance Officer for Legal Practice (COLP) and Compliance Officer for Finance and Administration (COFA) requirements: appointment, eligibility, responsibilities, reporting obligations and record keeping under the SRA Standards and Regulations.

Every SRA-authorised firm must designate a Compliance Officer for Legal Practice (COLP) and a Compliance Officer for Finance and Administration (COFA). These roles were introduced by section 90 of the Legal Services Act 2007 for licensed bodies (alternative business structures) and extended by the SRA to all authorised firms through the SRA Authorisation of Individuals Regulations and the SRA Authorisation of Firms Rules. Both officers must be approved by the SRA before they can take up the role.

Who can be a COLP or COFA:

COLP eligibility: Must be a manager or employee of the firm. In most cases the COLP must be a lawyer (solicitor, REL, or barrister) or, in a licensed body, the Head of Legal Practice (HOLP). The COLP must have sufficient seniority and authority within the firm to fulfil the role effectively.
COFA eligibility: Must be a manager or employee of the firm. The COFA does not need to be a lawyer, but must be suitably experienced in financial management and compliance. In a licensed body, this role is the Head of Finance and Administration (HOFA). The COFA must be approved by the SRA.
COLP core responsibilities: Ensure the firm and its employees and managers comply with the SRA Standards and Regulations. Take all reasonable steps to ensure the firm's compliance with its regulatory obligations, including the terms and conditions of authorisation. Record all failures to comply and report material breaches to the SRA promptly.
COFA core responsibilities: Ensure the firm and its employees and managers comply with the SRA Accounts Rules 2019. Take all reasonable steps to ensure compliance with obligations relating to client money, including proper client account management, reconciliation, and financial reporting. Record all failures to comply and report material breaches to the SRA promptly.
Record keeping obligations: Both the COLP and COFA must maintain records of all failures to comply with the SRA Standards and Regulations (COLP) or the SRA Accounts Rules (COFA). These records must be available for inspection by the SRA at any time and must be maintained throughout the period of authorisation.
Reporting obligations: Material failures to comply must be reported to the SRA promptly by the COLP or COFA as appropriate. Annual compliance declarations must be submitted via mySRA as part of the firm's annual renewal process. Failure to report material breaches is itself a regulatory breach.
Change notifications: The firm must notify the SRA of any change of COLP or COFA, including resignation, replacement, or any event that affects the officer's ability to fulfil the role. The replacement must be approved by the SRA before taking up the role.

Practical implementation: The COLP should establish systems and controls for monitoring compliance across the firm, including regular file reviews, supervision arrangements, complaints handling procedures, and risk registers. The COFA should implement controls over client account operations including signatory arrangements, reconciliation timetables (at least every five weeks per the SRA Accounts Rules), and procedures for handling residual balances.

Sole practitioners: In a recognised sole practice, the sole practitioner is normally both the COLP and the COFA. They must still maintain compliance records and submit annual declarations to the SRA.

Consequences of non-compliance: Failure to maintain adequate compliance systems, to keep proper records, or to report material breaches can result in regulatory action against both the individual officers and the firm. This may include conditions on the firm's authorisation, a rebuke, a fine of up to GBP 25,000 (individuals) or referral to the Solicitors Disciplinary Tribunal. In serious cases, the SRA may intervene in the firm's practice under Schedule 1 of the Solicitors Act 1974.

Price and service information on firm website reviewed and updated per SRA Transparency Rules
Complaints procedure published and accessible on firm website
Regulatory status and SRA authorisation number displayed
Details of professional indemnity insurer published

All solicitors have maintained a continuing competence record for the practising year
Each solicitor has reflected on the Statement of Solicitor Competence and identified development needs
Training and development activities completed and recorded

ℹ️ If you answered no to any practising certificate or PII item

Failure to renew practising certificates by 31 October means your solicitors cannot lawfully practise. Failure to hold qualifying PII from 1 October is a serious regulatory breach that may result in SRA intervention. Act on any outstanding items immediately.

Official guidance

Renew your practising certificate
mySRA portal for practising certificate renewal and firm management
sra.org.uk
SRA Indemnity Insurance Rules 2019
Rules governing professional indemnity insurance for SRA-authorised firms
sra.org.uk
SRA Accounts Rules 2019
Rules on handling client money and accountant's report requirements
sra.org.uk
SRA Transparency Rules
Requirements for publishing price and service information
sra.org.uk
Anti-money laundering guidance for the legal sector
SRA guidance on AML obligations including risk assessment requirements
sra.org.uk
Continuing competence
SRA guidance on maintaining competence throughout your career
sra.org.uk

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Guvnor

Annual compliance checklist for law firms

All solicitors have submitted practising certificate renewal applications via mySRA before 31 October

Firm renewal form submitted via mySRA before 31 October

Practising certificate fees paid for each solicitor

Firm periodic fee paid (invoiced by turnover band)

Individual and firm details on mySRA are accurate and up to date

PII policy renewed with an SRA participating insurer before 1 October

Policy meets SRA Minimum Terms and Conditions

Firm name on PII certificate matches mySRA and Companies House exactly

Run-off cover confirmed for any ceased areas of practice

PII details updated on mySRA

Compensation Fund contribution paid when invoiced by the SRA (usually with firm renewal)

Contribution amount verified against current SRA schedule

Determined whether an accountant's report is required (firms holding or receiving client money)

If required, report obtained from a reporting accountant and delivered to the SRA within 6 months of the accounting period end

Report covers compliance with the SRA Accounts Rules

Firm-wide AML risk assessment reviewed and updated at least annually

AML policies, controls, and procedures updated to reflect current risk assessment

All staff completed AML training appropriate to their role within the past 12 months

Beneficial ownership information for the firm is current

COLP has completed and recorded annual compliance review

COFA has completed and recorded annual financial compliance review

Any material breaches reported to the SRA promptly

COLP and COFA details on mySRA are correct (update immediately if either role changes)

Price and service information on firm website reviewed and updated per SRA Transparency Rules

Complaints procedure published and accessible on firm website

Regulatory status and SRA authorisation number displayed

Details of professional indemnity insurer published

All solicitors have maintained a continuing competence record for the practising year

Each solicitor has reflected on the Statement of Solicitor Competence and identified development needs

Training and development activities completed and recorded

ℹ️ If you answered no to any practising certificate or PII item

Compliance Assistant

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All solicitors have submitted practising certificate renewal applications via mySRA before 31 October

Firm renewal form submitted via mySRA before 31 October

Practising certificate fees paid for each solicitor

Firm periodic fee paid (invoiced by turnover band)

Individual and firm details on mySRA are accurate and up to date

PII policy renewed with an SRA participating insurer before 1 October

Policy meets SRA Minimum Terms and Conditions

Firm name on PII certificate matches mySRA and Companies House exactly

Run-off cover confirmed for any ceased areas of practice

PII details updated on mySRA

Compensation Fund contribution paid when invoiced by the SRA (usually with firm renewal)

Contribution amount verified against current SRA schedule

Determined whether an accountant's report is required (firms holding or receiving client money)

If required, report obtained from a reporting accountant and delivered to the SRA within 6 months of the accounting period end

Report covers compliance with the SRA Accounts Rules

Firm-wide AML risk assessment reviewed and updated at least annually

AML policies, controls, and procedures updated to reflect current risk assessment

All staff completed AML training appropriate to their role within the past 12 months

Beneficial ownership information for the firm is current

COLP has completed and recorded annual compliance review

COFA has completed and recorded annual financial compliance review

Any material breaches reported to the SRA promptly

COLP and COFA details on mySRA are correct (update immediately if either role changes)

Price and service information on firm website reviewed and updated per SRA Transparency Rules

Complaints procedure published and accessible on firm website

Regulatory status and SRA authorisation number displayed

Details of professional indemnity insurer published

All solicitors have maintained a continuing competence record for the practising year

Each solicitor has reflected on the Statement of Solicitor Competence and identified development needs

Training and development activities completed and recorded

ℹ️ If you answered no to any practising certificate or PII item

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