1
Type Speaker CPD Hours Level
Webinar
& DVD
1.25 UpdateInformation
Accreditation Information
SRA Competency A D

Introduction

The recent adaptations to the Solicitors Accounts Rules - now in version 21 - see the latest in a long line of revisions by the SRA.

In addition, there are new rules scheduled to come into force in November 2019.

As the rules change there is - as always - an increased focus on understanding the key elements and what they do, and do not allow.

This webinar will focus on enabling fee-earners and finance staff to understand the restrictions and the freedoms allowed by the Accounts Rules - in order that you can become more efficient handlers of money.

What You Will Learn

This webinar will cover the following:

  • The Existing SARs
    • Fiduciary duties regarding client money
    • What do the rules currently require?
    • SDAs and other client accounts
    • Dealing with fees and costs - when can you get paid?
    • Interest policies
    • New accounting provisions
  • The New 2019 Rules
    • The SRA's culture shift - new staff, new thinking
    • 45 pages are reduced to 6 - what has gone?
    • As long as client money is protected, do you need to care about the rest?
    • What time-limits must you observe?
    • What policies will you need to have in place?
    • Can your procedures be adjusted to fit your practice?
  • SRA's Key Concerns
    • Whose fault is it if money goes astray?
    • Identification and protection of client money
    • Use of funds only for their intended purposes
    • Return of funds at the end of a matter - how do you get rid of residual balances?
    • Auditing, investigation and enforcement - a new approach
  • The New Rules
    • How should you deal with your costs?
    • Do you still need to do the work before you bill the client?
    • Do you still need a COFA?
    • What if the COFA requires something not demanded by the rules?
  • Practical Responses - Delivering the Regulator's new expectations
    • Do you need to change anything?
    • What do you need to bear in mind regarding funding and payment?
    • Do you still need to have a policy on the payment of interest?
    • Can you use a TPMA? How much does that cost?

This pre-recorded webinar will be streamed at 12:30pm on Tuesday 5th November 2019 and will remain available to view by delegates who have registered by then for 90 days.

Quick Quiz - Test Your Knowledge: Solicitors Accounts Rules

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Solicitors Accounts Rules - The New November Rules & Key Concerns Explained

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