Client money and assets
Tags
Accounts & financeGuidance
Guidance
Helping you keep accurate client accounting records - GuidanceGuidance: Understand your obligations under the SRA Accounts Rules to keep accurate accounting records relating to the receipt and handling of client money.
Joint accounts and record keeping - GuidanceGuidance: Understand the types of joint accounts that you can operate and the records which you will need to keep in order to comply with the SRA Accounts Rules.
Do I need to operate a client account? - GuidanceGuidance: Questions and answers for SRA-authorised firms that receive client money in the form of fees and disbursements and want to rely on the exemption not to operate a client account.
Mergers, acquisitions and sales of law firms - Warning noticeWarning notice: Relevant to all firms and individuals we regulate who are thinking of or in the process of acquiring other law firms and seeking to sell or merge their law firm with another regulated entity
Money missing from client account - Warning noticeWarning notice: Relevant to all firms and individuals we regulate but is particularly relevant to you if you are a manager of a firm or a firm's COFA or COLP.
Glossary terms
client
means the person for whom you act and, where the context permits, includes prospective and former clients
in the SRA Financial Services (Scope) Rules, in relation to any regulated financial services activities carried on by an authorised body for a trust or the estate of a deceased person (including a controlled trust), means the trustees or personal representatives in their capacity as such and not any person who is a beneficiary under the trust or interested in the estate
financial benefit
includes any commission, discount or rebate, but does not include your fees or interest earned on any client accountasset
includes money, documents, wills, deeds, investments and other property