Solicitors’ Accounts Reporting Changes
From 25 November, the Solicitors Regulation Authority (SRA) have introduced new accounts rules, as well as other changes for the sector.
The changes have focused on simplifying the current accounts rules and focus on the key principles of handling client money safely and reducing the number of technical specific rules. Solicitors will also have new powers to undertake “non-reserved” legal work in a business which is not regulated by a legal services regulator.
Firms will also see the introduction of the SRA Digital Badge as a mandatory requirement for all regulated firms who operate a website.
For further information on the SRA changes, please contact Gary Brown on 023 8046 1240.