A flow should be able to change the permission of an item in a SharePoint List/document library; this is a very popular pattern in Sharepoint workflows
The following two actions should now be available:
1. Grant access to an item or a folder
2. Stop sharing an item or folder
Please check out these new actions in the SharePoint connector and let us know if you have any feedback!
This would allow for Items to be "Locked / Read-Only" once approved, or closed. This is a very common security model. The alternative is to have two lists. One for entries and edits, then move the item to a list with restricted permissions once approved, or compelted.
This feature currently exists in Nintex.
Nintex Workflow for Office 365 current offers this and we need an action in Flow in order to replace our Nintex workflows.