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Holding Client Money

Holding Client Money

Solicitors accounts rules client money

4.2 (24 Ratings) 657 Students Preview this course

with Katie Jackson

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Description

According to the SRA client money rules there were over 140 reports of misuse of holding client money or assets each month during 2014 and pay outs from the compensation fund have totalled in excess of £100m over the last five years.

With this in mind, it is easy to see why the SRA client money regulations deem the misuse of solicitors accounts rules FCA client money to be one of the biggest regulatory risks within the legal sector and why the consequences of such actions are so sever. This has led practitioners to seek alternative arrangements to handling client money such as escrow-style services provided by third party payment institutions and which are subject to consumer protection safeguards as a result.

This bite-size webinar, designed with the busy practitioner in mind, is perfect for compliance staff wishing to update their knowledge regarding the practicalities, pros and cons of holding client money in escrow, in a quick and efficient way.

Experienced lecturer Katie Jackson will also provide viewers with details on how and where to find additional information regarding these changes, should you wish to further develop your compliance knowledge on how long can a solicitor hold client money.

What you'll learn

On completion of this course you will:
- Be familiar with why the SRA are allowing escrow accounts and the perceived benefits
- Understand the regulatory requirements of moving to an escrow system
- Be able to anticipate future developments

Requirements

Watch 20 minute recorded webinar, including reference notes, discussion questions and optional evaluation form to test your legal knowledge
This course provides 0.5 – 1 CPD point (depending on length of time spent considering the discussion questions and completing the evaluation form)

Who is the target audience?

Trainee Solicitor

Course Content

Recorded Webinars

webinar

00:20:51

Written and recorded by Katie Jackson (0.5 CPD Points)

Documentation

Reference Notes

4 Pages

Discussion Questions

1 Pages

Evaluation

1 Pages

KeyWords

solicitor client account, fca client money, how long can a solicitor hold client money, sra client money, client money rules, client money, client money regulations, holding client money, solicitors accounts rules interest on client money, holding client money rules, solicitors account rules client money

Instructor

Katie Jackson

4636 Users
103 Courses
158 Reviews

Katie Jackson is a consultant specialising in law firm compliance and regulation. A former Inspector for the Council for Licensed Conveyancers, Katie led and managed inspections of some of the largest conveyancing practices in the country. Prior to working for the CLC, Katie spent a number of years working in various inspection and policy roles for the Solicitors Regulation Authority, and Legal Services Commission.

Reviews

Paula Freeman 4 years ago

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