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

Introduction

The SRA Standards and Regulations were launched on 25 November 2019 and the long-awaited replacement of the SRA Accounts Rules 2011, the much briefer SRA Accounts Rules 2019 are now in place.

Whilst at face value this might give the appearance of a simpler regime, this would be a dangerous assumption to make. Holding and protecting client money remains a regulatory risk priority and the COFA and senior colleagues must ensure that they and the firm are demonstrating the right response.

This webinar will reflect on the style and substance of the Accounts Rules 2019 and the important decisions which must be made by COFAs as to how to respond to them. The ongoing restriction on providing banking facilities, which remains one of the major risks of operating a client account, will also be explored.

What You Will Learn

This webinar will cover the following:

  • Understand the regulatory framework for client money requirements
  • Understand the changes to the Accounts Rules in the SRA Standards and Regulations package
  • Consider the risks of providing a banking service and how to avoid this
  • Be in a position to evaluate whether the COFA and the firm are responding appropriately to regulatory changes
  • Have you taken into account the substantive changes in the Accounts Rules?
  • Can you demonstrate compliance with the Accounts Rules?
  • What’s on the horizon and how can you plan for possible further changes?

This webinar was recorded on 13th May 2020

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