The SRA Handbook is no longer in effect. It was replaced by the SRA Standards and Regulations on 25 November 2019.
SRA Handbook
Record of commissions
Back to version 21Version 17 of the Handbook was published on 12/08/2016. For more information, please click 'History' Above
Rule 6: Record of commissions
- 6.1
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Where a firm receives commission which is attributable to regulated activities carried on by the firm, it shall keep a record of:
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Notes
- (i)
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Any financial benefit has to be dealt with in accordance with Outcome (1.15) in Chapter 1 of the SRA Code of Conduct. However, firms should bear in mind that in the case of commissions attributable to regulated activities, firms must also comply with the requirements of the SRA Financial Services (Scope) Rules 2001, rule 4 (c).
- (ii)
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The record could be a letter or bill of costs provided the information is clear.