video1.0<iframe src="https://www.loom.com/embed/dd9b6366215f4dc4b8954097b371d213" frameborder="0" width="1920" height="1440" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>14401920Loomhttps://www.loom.com14401920https://cdn.loom.com/sessions/thumbnails/dd9b6366215f4dc4b8954097b371d213-20185d9105b7c2a4.jpg4260.88This webinar reviews the SRA proposed changes to accountants reports and the compliance officer and compliance manager roles under its wider client money safeguarding reforms. It explains that, subject to LSB approval, all firms holding client money will need to submit an annual accountant report to the SRA whether qualified or not, plus a declaration, alongside tighter reporting visibility. The main focus is a proposed restriction on who can act as the COFA or COLP, including triggers of annual turnover over £600,000 and client money maximum balances exceeding £2 million, with eligibility linked to having sufficient authority to direct significant management decisions under usual practice. The speakers also discuss how these changes could complicate governance, career progression, and role coverage for sole owner managers and partnerships, and they recommend firms start threshold checks and roleholder governance reviews ahead of a potential 2027 go live.