SRA Standards and Regulations

Firm authorisation

As set out in the SRA Authorisation of Firms Rules: A decision made under rule 2.2 to refuse authorisation as a licensed body. A decision made under rule 3.1 to impose conditions on the authorisation of a licensed body. A decision in respect of a licensed body to refuse approval for the taking of steps specified in conditions under rule 3.3(c). A decision made under rule 4.4 to revoke or...

Regulatory and Disciplinary

As set out in the SRA Regulatory and Disciplinary Procedure Rules: A decision made under rule 3.1(a) to give a written rebuke. A decision made under rule 3.1 (b) to direct the payment of a financial penalty together with the amount of that penalty. A decision made under rule 3.1(c) to disqualify a person from acting as a HOLP, HOFA, manager or employee of a licensed body. A decision made under...

Firm authorisation

As set out in the SRA Authorisation of Firms Rules: A decision made under rule 2.2 to refuse authorisation of a recognised body or recognised sole practice. A decision made under rule 4.3 to revoke or suspend authorisation of a recognised body or recognised sole practice. A decision made under 3.1 to impose conditions on authorisation of a recognised body or recognised sole practice. A...

Miscellaneous

A refusal to grant permission to a solicitor to employ or remunerate in connection with their practice any individual who to their knowledge has been disqualified from practising as a solicitor as a result of being struck off the roll; or who is suspended from practice as a solicitor; or whose practising certificate is suspended as a result of being an undischarged bankrupt.

Maintenance of and contributions to the Fund

The SRA shall establish and maintain a fund for making grants in respect of applications made in accordance with these rules. Solicitors, RELs, RFLs, recognised bodies and licensed bodies must make contributions to the Fund in such amounts and at such times as may be prescribed. Any unpaid contributions may be recovered as a debt due to the SRA. The SRA may at any time: borrow for the purposes...

Residual discretion and fund of last resort

The Fund is a discretionary fund of last resort and no person has a right to a grant enforceable at law. The SRA retains a discretion to refuse to consider an application or to make a grant notwithstanding that the conditions in these rules for making a grant are satisfied. The circumstances in which the residual discretion in rule 2.1 may be exercised include, but are not limited to,...

Grants which may be made from the Fund

A person may apply for a grant out of the Fund, if the loss referred to in rule 3.3 relates to services provided: by the defaulting practitioner for them; or to, or as, a trustee where they are a beneficiary of the estate or trust. A person who is not a client of the defaulting practitioner may apply for a grant out of the Fund if they: were a party on the other side of a legal matter on which...

Eligibility for a grant

A person is eligible to apply for a grant out of the Fund if, at the time the application is made, they are: an individual; a sole trader; partnership, body corporate, unincorporated association or mutual association with an annual turnover or assets of less than £2 million; a charity with annual income net of tax in the most recent financial year of less than £2 million; or a trustee of a...

Defaulting practitioners

A defaulting practitioner means: a solicitor or an REL who at the date of the relevant act or omission was: practising in an authorised body; or practising in a non-commercial body; a solicitor or an REL who at the date of the relevant act or omission: was self-employed and practising in their own name, and not through a trading name or service company; did not employ anyone in connection with...

Grants in respect of statutory trusts

The SRA may make a grant to alleviate a deficiency in a statutory trust held by the SRA. The SRA may make a grant to a person where the money would have been due to that person but for their claim having been extinguished under rule 9.2 of the SRA Intervention Powers (Statutory Trust) Rules 2011 or rule 8.2 of the SRA Statutory Trust Rules.