Operation of joint accounts

You are reading current version in effect from 25 November 2019
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You are reading current version in effect from 25 November 2019

Guidance

Guidance

Joint accounts and record keeping

This guidance will help you think about the types of joint accounts that you may operate and the records which you need to keep in order to comply with the SRA Accounts Rules.

Glossary terms

client

means the person for whom you act and, where the context permits, includes prospective and former clients

in the SRA Financial Services (Scope) Rules, in relation to any regulated financial services activities carried on by an authorised body for a trust or the estate of a deceased person (including a controlled trust), means the trustees or personal representatives in their capacity as such and not any person who is a beneficiary under the trust or interested in the estate

bank

has the meaning given in section 87(1) of the SA

building society

means a building society within the meaning of the Building Societies Act 1986

costs

means your fees and disbursements