SRA Standards and Regulations

Notices

Any notice under the SRA's regulatory arrangements must be given in writing by delivering it, or sending it by post or by electronic mail, to the recipient's last notified postal or electronic mail address, as appropriate. If the intended recipient of a notice is represented, the notice may instead be given by sending or delivering it to the representative's practising or business address, or...

Power to conduct a review

The SRA may: where an administrative error in, or in relation to any decision comes to the SRA's attention, correct the error without the need to undergo a review under this Part; review all or part of any regulatory decision reached by it, of its own initiative, under this Part. Subject to rule 3.3, the SRA may review all or part of any of the regulatory decisions set out in annex 1 on the...

Taking effect of decisions subject to review or appeal

Unless specified otherwise, subject to rule 6.2, a decision takes effect: if no application for a review or appeal is made, on the expiry of the date for bringing such an application under these rules; and if an application for a review or an appeal is made, on the date any review or appeal has been determined or discontinued. The SRA may direct a decision to take immediate effect, where it...

Regulatory and Disciplinary

As set out in the SRA Regulatory and Disciplinary Procedure Rules: A decision made under rule 3.1(a) to give a written rebuke. A decision made under rule 3.1 (b) to direct the payment of a financial penalty together with the amount of that penalty. A decision made under rule 3.1(c) to disqualify a person from acting as a HOLP, HOFA, manager or employee of a licensed body. A decision made under...

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.

Client account

You only maintain a client account at a branch (or the head office) of a bank or a building society in England and Wales. You ensure that the name of any client account includes: the name of the authorised body; and the word "client" to distinguish it from any other type of account held or operated by the authorised body. You must not use a client account to provide banking facilities to...

Client money must be kept separate

You keep client money separate from money belonging to the authorised body. You ensure that you allocate promptly any funds from mixed payments you receive to the correct client account or business account. Where you are holding client money and some or all of that money will be used to pay your costs: you must give a bill of costs, or other written notification of the costs incurred, to the...

Withdrawals from client account

You only withdraw client money from a client account: for the purpose for which it is being held; following receipt of instructions from the client, or the third party for whom the money is held; or on the SRA's prior written authorisation or in prescribed circumstances. You appropriately authorise and supervise all withdrawals made from a client account. You only withdraw client money from a...

Client accounting systems and controls

You keep and maintain accurate, contemporaneous, and chronological records to: record in client ledgers identified by the client's name and an appropriate description of the matter to which they relate: all receipts and payments which are client money on the client side of the client ledger account; all receipts and payments which are not client money and bills of costs including transactions...

Obtaining and delivery of accountants' reports

If you have, at any time during an accounting period, held or received client money, or operated a joint account or a client's own account as signatory, you must: obtain an accountant's report for that accounting period within six months of the end of the period; and deliver it to the SRA within six months of the end of the accounting period if the accountant's report is qualified to show a...