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.

During this virtual classroom seminar, expert speaker Tracey Calvert 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.

Tracey will consider the ongoing restriction on providing banking facilities, which remains one of the major risks of operating a client account and will use recent disciplinary decisions to explore the scope of the prohibition and the consequences of a breach.

Tracey will also examine the connection with the firm’s anti-money laundering compliance.

What You Will Learn

This live and interactive session 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

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.