SRA Standards and Regulations
Showing 189 results
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SRA Authorisation of Firms Rules
Approval of role holders
Subject to rules 13.2 to 13.4, the SRA may approve a person's designation as a COLP or COFA or to be a manager or owner of an authorised body if it is satisfied that the individual is fit and proper to undertake the role, in accordance with the SRA Assessment of Character and Suitability Rules. The SRA will deem a person to be fit and proper to be a manager or owner of an authorised body if...
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SRA Authorisation of Firms Rules
Restrictions on employment and remuneration of certain individuals
An authorised body must not employ or remunerate, or permit to be a manager, owner or interest holder of the body, a person: who is subject to an order under section 43 of the SA, without the SRA's written permission; whose name has been struck off the roll, or who is suspended from practising as a solicitor, without the SRA's written permission; in respect of whom there is a direction in...
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SRA Application, Notice, Review and Appeal Rules
Miscellaneous
A decision made under the SRA Compensation Fund Rules 2019 or the SRA Compensation Fund Rules 2021 not to make a grant of the whole or part of the amount applied for from the Fund. Any decisions in respect of which there is a right of external appeal as set out in annex 2 or 3, that are not covered above.
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SRA Accounts Rules
Obtaining and delivery of accountants' reports
If you have, at any time during an accounting period, held or received client money, or operated a joint account or a client's own account as signatory, you must: obtain an accountant's report for that accounting period within six months of the end of the period; and deliver it to the SRA within six months of the end of the accounting period if the accountant's report is qualified to show a...
Found in
SRA Accounts Rules
Duty to correct breaches upon discovery
You correct any breaches of these rules promptly upon discovery. Any money improperly withheld or withdrawn from a client account must be immediately paid into the account or replaced as appropriate.
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SRA Assessment of Character and Suitability Rules
Assessment
When considering your character and suitability, the SRA will take into account the overriding need to: protect the public and the public interest; and maintain public trust and confidence in the solicitors' profession and in legal services provided by authorised persons. In doing so, the SRA will take into account the nature of your role, and your individual circumstances, on a case by case...
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SRA Assessment of Character and Suitability Rules
Disclosure and evidential requirements
Subject to rule 6.3 below, on making an application under any of the provisions set out in rule 1.1, you must disclose all matters, wherever they have taken place (including overseas), which are relevant to the SRA's assessment of your character and suitability, including, where practicable, any information set out in Table 4 which is relevant to the matter in question. On making an...
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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 Regulatory and Disciplinary Procedure Rules
Decisions to disqualify a person
An authorised decision maker may decide to disqualify a person under rule 3.1(c) only where they are satisfied that it is undesirable for the person to engage in the relevant activity or activities.
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