Solicitors accounts rules client money
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.
On completion of this course you will:
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