SRA Standards and Regulations

Confidentiality and disclosure

You keep the affairs of current and former clients confidential unless disclosure is required or permitted by law or the client consents. Any individual who is acting for a client on a matter makes the client aware of all information material to the matter of which the individual has knowledge except when: the disclosure of the information is prohibited by legal restrictions imposed in the...

Compliance and business systems

You have effective governance structures, arrangements, systems and controls in place that ensure: you comply with all the SRA's regulatory arrangements, as well as with other regulatory and legislative requirements, which apply to you; your managers and employees comply with the SRA's regulatory arrangements which apply to them; your managers and interest holders and those you employ or...

Application

Apart from rule 2 (Status Disclosure), these rules apply to: authorised bodies which are not regulated by the FCA; authorised bodies which are regulated by the FCA, but only in respect of their non-mainstream regulated activities; and the managers and employees of authorised bodies in (a) and (b) above, and references to "you" in these rules should be read accordingly. Where an authorised body...

Records of transactions

Where you receive instructions from a client to effect a transaction, or make a decision to effect a transaction in your discretion, you must keep a record of: the name of the client; the terms of the instructions or decision; and in the case of instructions, the date on which they were received. Where you give instructions to another person to effect a transaction, you must keep a record of:...

Modification of terms and conditions

The SRA may at any time, extend, revoke or vary any terms or conditions on a body's authorisation, imposed in accordance with rule 3 or otherwise, either on the application of the authorised body or on the SRA's own initiative.

Managers in SRA authorised firms

If you are a manager, you are responsible for compliance by your firm with this Code. This responsibility is joint and several if you share management responsibility with other managers of the firm.

Cooperation and accountability

You keep up to date with and follow the law and regulation governing the way you work. You cooperate with the SRA, other regulators, ombudsmen and those bodies with a role overseeing and supervising the delivery of, or investigating concerns in relation to, legal services. You respond promptly to the SRA and: provide full and accurate explanations, information and documentation in response to...

Police Station Representative Accreditation Scheme assessment providers

Only an organisation approved by the SRA may provide assessments for the Police Station Representative Accreditation Scheme. 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 conditions as it considers appropriate; or refuse the...

Notices

Any notice under the SRA's regulatory arrangements must be given in writing by delivering it, or sending it by post or by electronic mail, to the recipient's last notified postal or electronic mail address, as appropriate. If the intended recipient of a notice is represented, the notice may instead be given by sending or delivering it to the representative's practising or business address, or...

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...