FraxBiz - Nov Newsletter - Is your firm ready for 2027?
Nov 2026 Newsletter
Views From The
Fraxinus Business Associates Perspective
Welcome to our November update. As the year draws to a close, this edition looks at three practical questions to help your firm plan its compliance work for 2027. We also flag two regulatory developments worth keeping in view.
Is your firm ready for 2027?
A useful year-end review does not need to become a large project. Start with three questions. If an answer is unclear, record what needs checking and who will take it forward.
1. When is your next Lexcel reassessment due?
Check the date against your own accreditation records and work backwards from it. If the timing or preparation needed is uncertain, make that a planning point for the new year. Read: What A Lexcel Mock Audit Actually Involves And Why The Pass Rate Matters
2. Which AML procedures or file checks need attention?
Look at your current procedures and a sample of recent files. The SRA's latest annual report describes improvement in assessed firms, while identifying source-of-funds checks and how controls are applied in practice as areas still needing attention. Read: The SRA's AML report: better compliance, but the same weak spot on source of funds
3. When did you last review your COLP and COFA arrangements?
The SRA has confirmed the separation rules will not start in January. It is considering its next steps, including work with stakeholders. The pause does not remove the value of knowing how your current arrangements work and where evidence of them is kept. Read: No COLP/COFA split in January: what the SRA has said it will do instead
These are prompts for your own planning, not regulatory requirements or a substitute for advice on your firm's position. A short written note of what is current, what needs checking and what comes next gives you a practical starting point.
What to watch next
The SRA's 22 October update confirmed that the COLP/COFA separation rules will not take effect in January. The regulator says it is working with stakeholders and considering alternatives. No revised proposal or consultation date is confirmed in the material used for this edition.
The SRA's annual AML report, covering the year to 6 April 2026, also gives firms a useful prompt to review how written procedures are working on actual files. We have now published a post on each update, linked under questions 2 and 3 above.
Also new on the blog: Training new and junior staff: the compliance gap the SRA keeps finding
Call for guest contributors
At Fraxinus Business Associates, we are continually looking to share valuable insights, expert opinions and practical strategies with our community of legal practices and small-to-medium businesses.
We are actively opening up guest contributor slots for our upcoming monthly newsletter editions, and we'd love you to contribute an article, opinion piece or short industry analysis.
Why contribute?
Direct Reach and Visibility: Share your expertise with our engaged audience of business leaders, legal professionals and practice managers.
Featured Bio and Backlinks: Every contribution includes your full author bio, and direct links to your website or LinkedIn profile to support your personal brand and SEO.
Cross-Promotion: We will actively highlight and tag you across our professional social channels upon publication.
What we are looking for: Short, actionable insights (approx. 300 to 600 words) on topics such as:
Business strategy and operational efficiency
Industry trends, regulatory changes or compliance best practices
Professional development and workplace management
Alternate opinions and light-hearted insights
If you'd be interested in sharing a piece or discussing a topic idea, please get in touch or let us know a convenient time to connect.
A free health check, with no obligation
For an independent view of where your firm stands on compliance, get in touch to arrange a free health check. The contact page is an enquiry form. Mention "free health check" in the subject.
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