The SRA Accounts Rules & The COFA - 2024 Update

Introduction

Our compliance with duties to protect client money remain a risk priority for the SRA.

The SRA expects law firms to not only understand the Accounts Rules but also demonstrate compliance in practice. Any poor practice or weak response is likely to trigger a very robust and swift regulatory response. The firm’s COFA plays an essential role in managing these requirements.

Updated for 2024, this webinar will reflect on the style and substance of the Accounts Rules 2019 and the important decisions which must be made as to how to respond to them.

Expert speaker Tracey Calvert will explore major compliance issues such as the risks attached to mismanagement of people, the need for robust and proper controls, and the ongoing restriction on providing banking facilities.

Consideration will also be given to the lessons that can be learned from disciplinary decisions such as scrutiny of the use of client accounts for dubious purposes.

Whether you are the firm’s COFA, owner or are involved in a compliance, management or an accounting role, this webinar is essential viewing.

What You Will Learn

This webinar will cover the following:

• The regulatory framework for client money requirements
• The SRA’s expectations about internal risk management
• Key requirements of the Accounts Rules in the SRA Standards and Regulations package
• The risks of providing a banking service and how to avoid this
• Recent trends in disciplinary decision-making with reference to enforcement developments
• Evaluating whether the COFA and the firm are responding appropriately to regulatory changes

This pre-recorded webinar will be streamed at 12:30pm on Friday 5th July 2024 and will remain available to view by delegates who have registered by then for 90 days.