SRA Standards and Regulations

Vocational stage

Your eligibility to commence the Legal Practice Course will be determined according to the requirements, approved by the SRA, of the relevant authorised education provider. Subject to regulation 3A.2, to complete the vocational stage of training you must complete: the Legal Practice Course; a period of recognised training; and the Professional Skills Course.

Eligibility requirements

The SRA shall only grant an application for a practising certificate, or registration in the register of European lawyers, register of foreign lawyers or the register of Swiss lawyers if you meet the eligibility requirements in this regulation. You will be eligible to apply for a practising certificate if: your name is on the roll; and you are not suspended from practice as a solicitor....

Application and time limit

An applicant must make an application for a grant in the prescribed form, and within 12 months of the date they first became aware, or should reasonably have become aware, of the loss. The SRA may extend the 12 month period in rule 15.1 if satisfied that there are circumstances which justify the extension of the time limit. The applicant must provide information, documents and evidence...

Maintenance of and contributions to the Fund

The SRA shall establish and maintain a fund for making grants in respect of applications made in accordance with these rules. Solicitors, RELs, RFLs, RSLs recognised bodies and licensed bodies must make contributions to the Fund in such amounts and at such times as may be prescribed. Any unpaid contributions may be recovered as a debt due to the SRA. The SRA may at any time: borrow for the...

Conditions

The previous practice and each member thereof shall procure that notice to the SRA shall be given in writing as soon as practicable of: any claim(s) the subject of Rule 8 made or intimated during the relevant indemnity period against it, him or her of any claim for or likely to be for more than £500; or the receipt by it, him or her of notice of any intention to make any such claim(s). The...

Obtaining and delivery of accountants' reports

If you have, at any time during an accounting period, held or received client money, or operated a joint account or a client's own account as signatory, you must: obtain an accountant's report for that accounting period within six months of the end of the period; and deliver it to the SRA within six months of the end of the accounting period if the accountant's report is qualified to show a...

Duty to correct breaches upon discovery

You correct any breaches of these rules promptly upon discovery. Any money improperly withheld or withdrawn from a client account must be immediately paid into the account or replaced as appropriate.

Shortfall in statutory trust account

In cases where a shortfall is revealed between statutory trust monies held, and the beneficial entitlements shown in a reconciled list or best list, the SRA may rectify the position, in whole or in part, by the use of other monies taken into its possession in consequence of the intervention to which that list relates. Where, having applied additional funds under rule 6.1, a shortfall still...

Verification of claims

The SRA may verify the individual potential beneficial entitlements claimed under rule 4 by examining all available evidence.

SRA Minimum Terms and Conditions of Professional Indemnity Insurance

1. Scope of cover Civil liability Subject to the limits in clause 2, the insurance must indemnify each insured against civil liability to the extent that it arises from private legal practice in connection with the insured firm's practice, (including its prior practice and (unless run-off cover is provided in accordance with clause 5.3) any successor practice) provided that a claim in respect...