CPD Hours Level
Seminar 6 IntroductionInformation
Accreditation Information
SRA Competency A
'The course was very informative and Janet Taylor was an excellent speaker'
Suzanne McSwiney, Atter Mackenzie & Co


Calling all Principals - make sure your staff have the opportunity to be properly trained - if they're not and things go wrong it's you who will be held responsible. Serious breaches can have significant repercussions.

This seminar, aimed at those with little or no previous knowledge of the rules, or no prior formal training and will cover the latest version of the SRA Accounts Rules. The new SRA accounts rules came into effect on 25 November 2019. While these rules are shorter and less prescriptive than previous versions, it is clear that the vast majority of firms will implement these rules against a backdrop of having systems and procedures to deal with the much more prescriptive SRA Accounts Rules 2011. This session will look in detail at the 2019 Rules and the additional guidance produced by the SRA, highlighting any changes between the 2011 and 2019 rules.

What You Will Learn

This session will look in detail at (and highlight the changes between the 2011 and 2019 rules):

  • Main principles of the SRA Accounts Rules
    • Definitions of client money and what it means in practice
    • Removal of specified time frames and how that might be interpreted
  • Client bank accounts
  • The use of Third Party Managed Accounts
  • What is required regarding receipts and payments from the client account
  • Transferring money for the firm’s own costs
  • Ensuring the firm doesn’t inadvertently provide banking facilities in breach of the rules
  • Dealing with residual balances
  • Interest on client account
  • Operating a client’s own bank account
  • Other ‘special situations’ where only a limited application of the rules apply
  • Accounting record requirements and client ledgers and reconciliations

The session will be interactive and participative using a quiz and case study exercises to reinforce the rules.

Quick Quiz - Test Your Knowledge: Solicitors Accounts Rules

Troubled by residual client balances or require a SARs health check? Read how to ensure regulatory compliance with our new consultancy services

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Discounts are available for multiple places and if you have 5 or more people interested in this course and would like to discuss holding it in your area or on an in-house basis then please email us at information@mblseminars.com
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