SRA Standards and Regulations

Showing 217 results

Found in

SRA Financial Services (Conduct of Business) Rules

Rule 5

Record of commissions

Where you receive commission which is attributable to your regulated financial services activities, you must keep a record of: the amount of the commission; and how you have accounted to the client.
Found in

The prescribed organisations and terms under which Solicitors, RELs and RFLs are allowed to hold client money in their own name

3

Client money must be kept separate

You keep client money separate from money belonging to you or the Prescribed Organisation. You ensure that you allocate promptly any funds from mixed payments you receive to the correct client account or any other accounts operated by the Prescribed Organisation. 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...
Found in

SRA Indemnity Rules 2012

Rule 2

Citation

These Rules may be cited as the SRA Indemnity Rules 2012.
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SRA Indemnity Rules 2012

Rule 3

Definitions and interpretation

The SRA Handbook Glossary 2012 (the Glossary) shall apply and unless the context otherwise requires: all italicised terms shall be defined in accordance with the Glossary; terms shall be interpreted in accordance with the Glossary; a reference to a Rule is to a Rule forming part of these Rules, except in relation to Schedule 1 where a reference to a rule is to a rule in the Solicitors'...
Found in

SRA Indemnity Rules 2012

Rule 6

Application of the Rules

These Rules shall apply to a practice carried on by: a sole solicitor; an REL practising as a sole practitioner; a recognised body; a partnership consisting of one or more solicitors and/or RELs and/or recognised bodies and/or licensed bodies; a partnership consisting of one or more solicitors and/or RELs, together with one or more RFLs; a partnership consisting of one or more RELs with or...
Found in

SRA Indemnity Rules 2012

Rule 14

Conditions

The previous practice and each member thereof shall procure that notice to Solicitors Indemnity Fund Limited shall be given in writing as soon as practicable of: any claim(s) the subject of Rule 8 made or intimated during the relevant indemnity period against it, him or her of any claim for or likely to be for more than £500; or the receipt by it, him or her of notice of any intention to make...
Found in

SRA Indemnity Rules 2012

Rule 18

Use of information

Without prejudice to the Society's power under Rule 4.5 to designate itself as the person responsible for holding, managing and administering the fund, information and documents obtained by Solicitors Indemnity Fund Limited about any particular practice or member thereof in the course of investigating and handling any claim made or intimated or any circumstances notified as mentioned in Rule...
Found in

SRA Indemnity Insurance Rules

Rule 8

Use of information

Each authorised body must notify the SRA (or such person as the SRA may notify to the authorised body from time to time) and its participating insurer in writing as soon as reasonably practicable and in any event no later than five business days after the date on which: the authorised body enters an extended policy period; the authorised body has entered the cessation period; and where the...
Found in

SRA Indemnity Insurance Rules

Rule

Special provisions for RELs

If: one or more of the principals of an insured firm are RELs who claim that professional indemnity insurance, or a professional indemnity fund, under their home professional rules provides the insured firm's practice with professional indemnity cover in all respects equivalent in its conditions and extent to that which would be provided under the MTC (Full Home State Cover); no more than 25%...
Found in

SRA Education, Training and Assessment Provider Regulations

Regulation 6

Higher rights of audience assessment providers

Only an organisation approved by the SRA may provide assessments in higher courts civil advocacy and higher courts criminal advocacy conferring a higher courts advocacy qualification. An organisation may apply to the SRA in such manner as may be prescribed to be approved to provide such assessments. The SRA may, in relation to an application for approval: grant the application, subject to such...