SRA Standards and Regulations
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SRA Accounts Rules
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...
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SRA Accounts Rules
Duty to correct breaches upon discovery
You correct any breaches of these rules promptly upon discovery. Any money improperly withheld or withdrawn from a client account must be immediately paid into the account or replaced as appropriate.
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SRA Accounts Rules
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...
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SRA Accounts Rules
Operation of joint accounts
If, when acting in a client's matter, you hold or receive money jointly with the client or a third party, Part 2 of these rules does not apply save for: rule 8.2 - statements from banks, building societies and other financial institutions; rule 8.4 - bills and notifications of costs.
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SRA Accounts Rules
Operation of a client's own account
If, in the course of practice, you operate a client's own account as signatory, Part 2 of these rules does not apply save for: rule 8.2 - statements from banks, building societies and other financial institutions; rule 8.3 - reconciliations; rule 8.4 - bills and notifications of costs.
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SRA Principles
SRA Principles
You act: in a way that upholds the constitutional principle of the rule of law, and the proper administration of justice. in a way that upholds public trust and confidence in the solicitors' profession and in legal services provided by authorised persons. with independence. with honesty. with integrity. in a way that encourages equality, diversity and inclusion. in the best interests of each...
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SRA Authorisation of Individuals Regulations
Commencement, revocation, and transitional provisions
Regulations 1.1 to 3.3 come into force on a date to be determined in an order made by the SRA Board. [Note: this date is 1 September 2021] Subject to regulations 11.3 to 11.7, regulations 3A.1 to 3F.4 shall be revoked on the date determined in accordance with regulation 11.1. Regulations 3A.1 to 3E.2 shall continue to have effect, in respect of those individuals falling within regulation 11.5,...
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SRA Authorisation of Individuals Regulations
Recognised training
In order to satisfactorily complete your period of recognised training, you must maintain a record of training which: contains details of the work you have performed; records how you have applied and developed the skills, as set out in the Practice Skills Standards; records your reflections on, and your training principal's appraisal of, your performance and development against, and your...
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SRA Authorisation of Individuals Regulations
Eligibility for admission of qualified lawyers
You will be eligible for admission as a solicitor if the SRA is satisfied: you hold a legal professional qualification that is recognised by the SRA, which confers rights to practise in England and Wales or in an overseas jurisdiction; and subject to regulation 3.2, you meet the criteria in regulation 1.1(a), (b),(d) and (e). Subject to regulation 3.3, if you hold a qualification recognised...
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