SRA Accounts Rules & The Banking Restrictions - All You Need to Know

Introduction

The SRA Accounts Rules contain a prohibition on providing banking services.

This is an absolute restriction, and it is a key risk management topic that all members of the law firm understand the issues and the risks attached to providing banking services to clients and third parties.

Presented by expert speaker Tracey Calvert, this webinar will reflect on the style and substance of the Accounts Rules and the important decisions which must be made as to how to respond to them.

Consideration will be given to the ongoing restriction on providing banking facilities, which remains one of the major risks of operating a client account.

This webinar will use recent disciplinary decisions to explore the scope of the prohibition and the consequences of a breach.

The connection with the firm’s anti-money laundering compliance will also be examined.

What You Will Learn

This webinar will cover the following:

• Understand the regulatory framework for client money requirements
• Understand the wording of rule 3.3
• Review the disciplinary decisions in this area
• Consider the risks of providing a banking service and how to avoid this
• Understand the connection with AML risks
• Be able to evaluate whether the COFA and the firm are responding appropriately to regulatory changes

This webinar was recorded on 20th November 2024

You can gain access to this webinar and 1,700+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.

Quick Quiz - Test Your Knowledge: Solicitors Accounts Rules