Client money must be kept separate
You are reading current version in effect from 25 November 2019
Tags
Accounts & financeYou are reading current version in effect from 25 November 2019
Glossary terms
client money
has the meaning given in rule 2.1 of the SRA Accounts Rules
mixed payments
means a payment that includes both client money and non-client money
client
means the person for whom you act and, where the context permits, includes prospective and former clients
in the SRA Financial Services (Scope) Rules, in relation to any regulated financial services activities carried on by an authorised body for a trust or the estate of a deceased person (including a controlled trust), means the trustees or personal representatives in their capacity as such and not any person who is a beneficiary under the trust or interested in the estate
costs
means your fees and disbursements
client account
has the meaning given to it in the SRA Accounts Rules