SRA Standards and Regulations
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SRA Statutory Trust Rules
Shortfall in statutory trust account
In cases where a shortfall is revealed between statutory trust monies held, and the beneficial entitlements shown in a reconciled list or best list, the SRA may rectify the position, in whole or in part, by the use of other monies taken into its possession in consequence of the intervention to which that list relates. Where, having applied additional funds under rule 6.1, a shortfall still...
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SRA Statutory Trust Rules
Verification of claims
The SRA may verify the individual potential beneficial entitlements claimed under rule 4 by examining all available evidence.
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SRA Indemnity Insurance Rules
SRA Minimum Terms and Conditions of Professional Indemnity Insurance
1. Scope of cover Civil liability Subject to the limits in clause 2, the insurance must indemnify each insured against civil liability to the extent that it arises from private legal practice in connection with the insured firm's practice, (including its prior practice and (unless run-off cover is provided in accordance with clause 5.3) any successor practice) provided that a claim in respect...
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SRA Indemnity Insurance Rules
RELs
The provisions contained in annex 2 to these rules apply to an authorised body that has at least one principal who is an REL.
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SRA Application, Notice, Review and Appeal Rules
Applications
An application made under the SRA's regulatory arrangements must be made in writing, where appropriate, in the prescribed form correctly completed, and be accompanied by: any prescribed fee or charge; and any information and documents which may be prescribed, or reasonably requested by the SRA. If you make an application to the SRA, you do not need to submit all payments, information, and...
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SRA Application, Notice, Review and Appeal Rules
Individual Authorisation
As set out in the SRA Authorisation of Individuals Regulations: A decision made under regulation 3E.2(a) to refuse to recognise all or part of a period of recognised training. A decision made under regulation 4.1 to refuse an application for admission as a solicitor made under Part V of the European Communities (Lawyer's Practice) Regulations 2000. A decision made under regulation 5.1 to...
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SRA Application, Notice, Review and Appeal Rules
Decisions on review
A review will usually be determined by an authorised decision maker on consideration of written evidence alone. An adjudicator may at their sole discretion invite the relevant person to be interviewed by an authorised decision maker accompanied by their representative (if any). Subject to rule 4.3, on a review (save for a review of a decision made under rule 3.1(h) of the SRA Regulatory and...
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SRA Application, Notice, Review and Appeal Rules
Regulatory and Disciplinary
As set out in the SRA Regulatory and Disciplinary Procedure Rules: A decision made under rule 3.1, save for a decision to make an application to the Tribunal under rule 3.1(g). A decision made under rule 3.2(a) to impose interim conditions. 2A. A decision made under rule 7.2 that a disqualification should remain in force. A decision made under rule 9.2 to publish a decision.
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SRA Financial Services (Conduct of Business) Rules
Disclosure of information
Where you undertake credit-related regulated financial services activities for a client, you must ensure that information in connection with such activities and any agreements to which they relate are communicated to the client in a way that is clear, fair and not misleading. Where you carry on the activity of credit broking, you must indicate in any advertising and documentation intended for...
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