SRA Handbook

Temporary emergency approvals for compliance officers

Version 20 of the Handbook was published on 1 October 2018. For more information, please click "History" above.

Rule 18: Temporary emergency approvals for compliance officers

18.1

If an authorised body ceases to have a COLP or COFA whose designation has been approved by the SRA (including a deemed approval under Rule 13.3), the authorised body must immediately and in any event within seven days:

(a)

notify the SRA;

(b)

designate the sole practitioner, another manager or employee to replace its previous COLP or COFA, as appropriate; and

(c)

make an application to the SRA for temporary approval of the new COLP or COFA, as appropriate.

18.2

The SRA may grant a temporary approval under this rule if:

(a)

it is satisfied that the authorised body could not reasonably have commenced an application for approval of designation in advance of the non-compliance; and

(b)

on the face of the application and any other information immediately before the SRA, there is no evidence suggesting that the new compliance officer is not suitable to carry out the duties imposed on them under these rules.

18.3

Temporary approval under this rule:

(a)

may be granted initially for 28 days;

(b)

may be granted to have effect from the date the body ceases to have a COLP or COFA whose designation has been approved;

(c)

may be extended in response to a reasonable request by the authorised body;

(d)

must be extended pending determination of a substantive application for approval commenced in accordance with Rule 18.4;

(e)

may be granted or extended subject to such conditions on the authorised body's authorisation as the SRA thinks fit, having regard to the criteria in Rule 9;

(f)

has effect only while the criteria in Rule 8.5(g) are met;

(g)

if granted, cannot prejudice the discretion of the SRA to refuse a substantive application for approval of designation or to impose any conditions on that approval; and

(h)

in exceptional circumstances, and for reasonable cause, may be withdrawn at any time.

18.4

If granted temporary approval under Rule 18.3 above for its designation of a new COLP or COFA, the authorised body must:

(a)

designate a permanent COLP or COFA, as appropriate; and

(b)

submit a substantive application for approval of that designation under Rule 13;

before the expiry of the temporary approval or any extension of that approval by the SRA.

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