SRA Handbook

Regulatory conflict

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Version 9 of the Handbook was published on 01/04/2014. For more information, please click 'History' Above

Rule 11: Regulatory conflict

11.1

If a conflict arises between:

(a)

a requirement imposed:

(i)

on an authorised body or on an employee or manager of the body by the SRA as the regulator of that body, and

(ii)

on an individual manager or employee of that body by another approved regulator;

then the requirement imposed by the SRA prevails over the requirement imposed by the other approved regulator;

(b)

a requirement imposed:

(i)

on an authorised non-SRA firm or on an employee or manager of the firm by another approved regulator as the regulator of that firm, and

(ii)

on an individual manager or employee of that firm by the SRA;

then the requirement imposed by the other approved regulator prevails over the requirement imposed by the SRA.