SRA Standards and Regulations
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Found in
SRA Compensation Fund Rules 2021
Maximum grant
Unless the SRA is satisfied that there are exceptional circumstances in the public interest that justify a higher sum, the maximum grant that may be made is £2 million. For the purposes of this rule, a single claim is an application, or applications, from an applicant for the loss incurred by them arising from a single event or set of connected underlying circumstances.
Found in
SRA Indemnity Fund Rules
Establishment and maintenance of fund
The SRA shall maintain the Indemnity Fund in accordance with these Rules. The purpose of the Indemnity Fund is to provide indemnity against loss as mentioned in section 37 of the SA as extended by section 9 of the AJA, Schedule 4 paragraph 1(3) of the European Communities (Lawyer's Practice) Regulations 2000 and section 89 of the Courts and Legal Services Act 1990 in the circumstances, to the...
Found in
SRA Indemnity Fund Rules
Scope of indemnity
The following persons, namely: solicitors, former solicitors, RELs, persons formerly practising RELs, RFLs practising in partnership with solicitors or RELs, persons formerly practising as RFLs in partnership with solicitors or RELs, non - registered European lawyers practising in partnership with RELs, and persons formerly practising as non - registered European lawyers in partnership with...
Found in
SRA Financial Services (Scope) Rules
Basic conditions
If you carry on any regulated financial services activities you must ensure that: you satisfy the conditions in section 327(2) to (5) of FSMA; the activities arise out of, or are complementary to, the provision of a particular professional service to a particular client; there is not in force any order or direction of the FCA under sections 328 or 329 of FSMA which prevents you from carrying...
Found in
SRA Financial Services (Scope) Rules
Corporate finance
You must not act as any of the following: sponsor to an issue in respect of securities to be admitted for dealing on the London Stock Exchange; nominated adviser to an issue in respect of securities to be admitted for dealing on the Alternative Investment Market of the London Stock Exchange; or corporate adviser to an issue in respect of securities to be admitted for dealing on the ICAP...
Found in
SRA Application, Notice, Review and Appeal Rules
Individual authorisation
As set out in the SRA Authorisation of Individuals Regulations: A decision made under regulation 1.1(b) not to be satisfied that an individual holds a degree or qualifications or experience which are equivalent to a degree. A decision made under regulation 3.1(a) not to be satisfied that an individual holds a legal professional qualification that is recognised by the SRA, which confers rights...
Found in
SRA Application, Notice, Review and Appeal Rules
Firm authorisation
As set out in the SRA Authorisation of Firms Rules: A decision made under rule 2.2 to refuse authorisation of a recognised body or recognised sole practice. A decision made under rule 4.3 to revoke or suspend authorisation of a recognised body or recognised sole practice. A decision made under 3.1 to impose conditions on authorisation of a recognised body or recognised sole practice. A...
Found in
SRA Application, Notice, Review and Appeal Rules
Miscellaneous
A refusal to grant permission to a solicitor to employ or remunerate in connection with their practice any individual who to their knowledge has been disqualified from practising as a solicitor as a result of being struck off the roll; or who is suspended from practice as a solicitor; or whose practising certificate is suspended as a result of being an undischarged bankrupt.
Found in
SRA Authorisation of Firms Rules
Information return and notification events
An authorised body must complete and deliver to the SRA an annual return by the date and in the form prescribed.
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