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Solicitors Regulation Authority

An informative and valuable resource helping to keep you up to date with key issues, especially around Solicitors Regulation Authority and Solicitors Accounts Rules.

 

COFAs - Client money protection during COVID-19

Richard Hill AILFM
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The SRA have stated that “We expect solicitors and firms to continue to meet the high standards the public expect”….. and…”We expect firms to have appropriate contingency plans in place for disruption, but we recognise that...

Updated guidance for law firms from the SRA

Ian Johnson
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02 Apr 2020 It has only been a couple of days since we made firms aware of new guidance relating to the SRA’s Accounts Rules and, in particular, the considerations for firms where there may be a delay in obtaining an Accountant’s Report, but...

COFAs - it's all in the manual

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All law firms should ideally have some form of office manual detailing the policies, controls and processes which have been agreed internally and which cover all operating aspects of the practice. The office manual is the law firm’s internal handbook...

New Accounts Rules focused on keeping client money safe

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Ahead of the new SRA Accounts Rules coming into force in November, Juliet Oliver, SRA General Counsel, outlines the key principles of the new regulations and the approaches available to manage and safeguard client money. Click here for:  Full...

The COFA's hitlist 10 things to do for 25 November 2019

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The new SRA Accounts Rules come into force on 25 November 2019 and COFAs need to prepare and take the opportunity to review their role. Richard Hill, ILFM Executive Council member and Practice Director at Stepien Lake LLP provides a few tips of what to...

Video Update from LegalEx 2019 'The SRA's Account Rules'

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Nice little update direct from the SRA on the New Accounts Rules 2109 - LegalEx 2019 https://www.youtube.com/watch?v=brXDgeK8ghE&feature=youtu.be Nice mention for the ILFM at 24mins This session offers an update on planned changes...

SRA - New Accounts Rules and how the ILFM help, train and support all legal finance & management professionals

Tim Kidd
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The SRA has confirmed that they will launch their new regulatory model on 25 November 2019, and the ILFM would like to ensure that all legal finance professionals are given practical training, updates and support before the rules come into play.  ...

Legal Finance - Insider Insight

Tim Kidd
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The ILFM’s history is one of support, advice and training. Over the years we have grown in tandem with new compliances and regulations to become the leading non-profit organisation for legal finance professionals. The ILFM was founded in 1978,...

APPROVED: LSB approves new SRA Accounts Rules

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The Legal Services Board has published a press release stating they have approved the ‘Looking to the Future’ rule change application as submitted by the Solicitors Regulation Authority.  Read the full release...

Looking to the Future: SRA Accounts Rules Review

Sue Williams FILFM
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  The SRA have today published their decisions following consultations on “Looking to the Future: Flexibility and Public Protection” and “Looking to the Future: Accounts Rules Review”.  Following extensive consultation and...

SRA Board decisions on New Accounts Rules 2018 and more...

Tim Kidd
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The SRA has published it's recent decisions and consultation response documents.  Follow this link to see >  consultation response documents . Downloadable documents at the bottom of this post. ...

SRA launches a new consumer credit toolkit

Richard Hill AILFM
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On 19 January 2016, the Solicitors Regulation Authority (SRA) published a new webpage  for SRA-authorised firms involved in, or considering becoming involved in, the carrying on of consumer credit activities under Part 20 of the Financial Services and...

Criminals raid 50 firms in cyberattacks this year

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Criminals raid 50 firms in cyberattacks this year – SRA 15 October 2015 By   John Hyde   Up to 50 firms have fallen victim to cyberattacks since Christmas as criminals find ever-more sophisticated ways of targeting the legal...

Proposals for consumer credit regulation adopted by SRA Board

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SRA News release Proposals for consumer credit regulation adopted by SRA Board       9 September 2015 Solicitors should be able to carry out certain consumer credit activities under SRA authorisation as long as their...

Changes to the format of accountants' reports for solicitors' practices

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  15 July 2015 Changes to the format of accountants' reports for solicitors' practices - and the criteria for qualifying accounts and submitting them - should further improve their value and reduce the burden on firms, the Solicitors...

Consumer Credit Activities the latest SRA Consultation

Richard Hill AILFM
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TO OUR MEMBERS SRA consultation – have your say! The SRA wants your views on its proposals last month to regulate consumer credit activities carried on by SRA-authorised individuals and firms under Part 20 of the Financial Services and Markets...

SRA delays second phase of reforms on submitting accountants' reports

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The Solicitors Regulation Authority (SRA) has delayed the introduction of the second phase of its reforms of the rules on submitting accountants’ reports from next month to November this year. Read full story here ....

The ILFM's response to the Solicitors Regulation Authority's consultation on reporting accountant requirements

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  The Institute of Legal Finance and Management’s response to the Solicitors Regulation Authority’s consultation on reporting accountant requirements  Proportionate regulation: reporting accountant requirements  Do...