Posted by on 6th March 2020 in March 2020 |
The
new SRA Standard and Regulations came into effect on 25 November 2019, replacing the previous SRA Handbook.
Within these latest regulations are the
new set of SRA Accounts Rules 2019 which the legal sector is still getting to grips with some of the changes.
In this brief article we look at two of the most topical areas being raised by law firms and their COFAs.
Notification of disbursements
One of the leading questions raised has been regarding compliance with the
new rule 4.3, which states that if a firm wishes to transfer money from the client bank account from funds held on account for a specific client to cover costs, the client...