Santander issue CQS deadline

According to The Law Society Gazette, Santander have confirmed that they will remove any conveyancing firms who have not applied for the Law Society’s Conveyancing Quality Scheme accreditation by 28th March from their panel.
The bank had previously advised its panel members back in September that any firm who failed to apply in good time would be removed from their panel should they fail to gain accreditation by 31st March.  The Law Society tell us that a well completed CQS application can be processed in around 10 days.
The bank confirmed to the Law Society that firms who have recently applied or are about to do so will not be removed until such time as the CQS accreditation decision is given, but firms who have not even applied by 28th March will be removed. 
What does this stance mean for licensed conveyancers and their position on the Santander panel?
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