SRA Standards and Regulations
Showing 412 results
Found in
SRA Authorisation of Firms Rules
Authorisation decision
The SRA may grant an application for authorisation in relation to one or more reserved legal activity. The SRA will refuse an application for authorisation if it is not satisfied that, if authorisation is granted: the applicant's managers, interest holders or management and governance arrangements are suitable to operate or control a business providing regulated legal services; the applicant...
Found in
SRA Authorisation of Firms Rules
Restrictions on services provided by a recognised body or recognised sole practice
If you are a recognised body or recognised sole practice, your business may consist only of the provision of: professional services of the sort provided by individuals practising as solicitors and/or lawyers of other jurisdictions; and the services set out in annex 2 (whether or not they are also included in paragraph (a)), and if you have a notary public as a manager or employee, then...
Found in
SRA Indemnity Fund Rules
Authority
Deleted
Found in
SRA Accounts Rules
Payment of interest
You account to clients or third parties for a fair sum of interest on any client money held by you on their behalf. You may by a written agreement come to a different arrangement with the client or the third party for whom the money is held as to the payment of interest, but you must provide sufficient information to enable them to give informed consent.
Found in
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...
Found in
SRA Accounts Rules
Application section
These rules apply to authorised bodies, their managers and employees and references to "you" in these rules should be read accordingly. The authorised body's managers are jointly and severally responsible for compliance by the authorised body, its managers and employees with these rules. In relation to a licensed body, the rules apply only in respect of activities regulated by the SRA in...
Found in
SRA Statutory Trust Rules
Minimum level of funds
The SRA may set a minimum level of funds to which a beneficiary may be entitled within a statutory trust account below which it will not attempt to identify or locate potential beneficiaries on the basis that, in the opinion of the SRA, it would be unreasonable or disproportionate to do so. The level in rule 3.1 applies to the sum identified as relating to a particular beneficiary, after the...
Found in
SRA Statutory Trust Rules
Claimants to money
Unless the SRA agrees otherwise, every claimant must submit to the SRA a claim in the prescribed form accompanied by any documentation and other evidence as may be required by the SRA, and which must include, if requested by the SRA, a statement of truth.
Found in
SRA Statutory Trust Rules
Interim payments
The SRA may make an interim payment to a beneficiary before the full distribution of funds in a statutory trust account takes place provided that the SRA is satisfied that the payment can be made without prejudicing other claims to those funds.
Found in