SRA Standards and Regulations
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SRA Application, Notice, Review and Appeal Rules
Miscellaneous
A decision made under the SRA Compensation Fund Rules 2019 or the SRA Compensation Fund Rules 2021 not to make a grant of the whole or part of the amount applied for from the Fund. Any decisions in respect of which there is a right of external appeal as set out in annex 2 or 3, that are not covered above.
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SRA Application, Notice, Review and Appeal Rules
Firm authorisation
As set out in the SRA Authorisation of Firms Rules: A decision made under rule 2.2 to refuse authorisation of a recognised body or recognised sole practice. A decision made under rule 4.3 to revoke or suspend authorisation of a recognised body or recognised sole practice. A decision made under 3.1 to impose conditions on authorisation of a recognised body or recognised sole practice. A...
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SRA Financial Services (Conduct of Business) Rules
Safekeeping of clients' investments
Where you undertake the regulated financial services activity of safeguarding and administering investments, you must operate appropriate systems, including the keeping of appropriate records, which provide for the safekeeping of assets entrusted to you by clients and others. Where such assets are passed to a third party: you should obtain an acknowledgement of receipt of the property; and if...
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SRA Financial Services (Conduct of Business) Rules
General information to be provided
In good time before the conclusion of a contract of insurance, you must disclose the following information to clients: whether you provide a personal recommendation about the insurance products offered; the procedures allowing clients and other interested parties to register complaints about you and information about the out-of-court complaint and redress procedures available for the...
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SRA Financial Services (Conduct of Business) Rules
Appropriation of payments
Where you are entitled to payments from the same client in respect of two or more regulated credit agreements, you must allow the client to put any payments made, in respect of those agreements, towards the satisfaction of the sum due under any one or more of the agreements in such proportions as the client thinks fit.
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SRA Financial Services (Scope) Rules
Corporate finance
You must not act as any of the following: sponsor to an issue in respect of securities to be admitted for dealing on the London Stock Exchange; nominated adviser to an issue in respect of securities to be admitted for dealing on the Alternative Investment Market of the London Stock Exchange; or corporate adviser to an issue in respect of securities to be admitted for dealing on the ICAP...
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SRA Financial Services (Scope) Rules
Insurance distribution activities
You may only carry on insurance distribution activities as an ancillary insurance intermediary. You must not carry on any insurance distribution activities unless you: are registered in the Financial Services Register; and have appointed an insurance distribution officer who will be responsible for your insurance distribution activities. If you are carrying on, or proposing to carry on,...
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SRA Transparency Rules
Costs information
An authorised body, or an individual practising in the circumstances set out in regulation 10.2(b)(i) to (vii) of the SRA Authorisation of Individuals Regulations, who publishes as part of its usual business the availability of any of the services set out at rule 1.3 to individuals or at rule 1.4 to businesses, must, in relation to those services, publish on its website cost information in...
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SRA Indemnity Insurance Rules
Transitionals and savings
For the purposes of the SA (including without limitation section 10 of that Act), any person who is in breach of any rule or part of any rule under the Solicitors' Indemnity Insurance Rules 2000 to 2010 or SRA Indemnity Insurance Rules 2011 to 2013 will be deemed, for so long as that person remains in breach, not to be complying with these rules.
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