Why does the SRA care about version control?

Because it assesses how well documents are controlled and aligned. Multiple drafts with no clear approved version undermine confidence — even when the underlying policy is sound.

Policy Version Control for COLPs and MLROs

Policy version control for COLPs and MLROs

The SRA looks not just at what documents say, but how well they are controlled and aligned. Firms need to be clear which documents are current, avoid circulating multiple drafts, and ensure anything submitted reflects the firm's approved position.

For COLPs and MLROs, good version control turns a potential weakness into evidence of a well-run framework.

One approved version, drafts retired

If three versions of a policy are circulating, it's unclear which one is authoritative — and which one the SRA will see. Hold a single approved version and archive superseded drafts so there is never doubt about what is live.

Record every approval

Capture each change with who approved it, when, and why. A timestamped, attributable decision record demonstrates that changes were considered and signed off — not made informally.

Link versions to acknowledgement

Connect each policy version to the staff who were notified and acknowledged it. That way the trail runs from regulatory change, to policy update, to approval, to staff sign-off — one coherent chain.

Keep a full history

Retain every version with a clear record of what changed between them. When the SRA asks how a policy has evolved, you can show it at a glance rather than reconstructing it from emails.

Reglo helps firms keep this evidence organised and audit-ready — humans approve every change. AI drafts and organises; your compliance team decides.

This guide is general information for compliance teams, not legal or regulatory advice. Always refer to the SRA's current guidance and take your own professional advice where needed.