SRA Standards and Regulations
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Found in
SRA Financial Services (Conduct of Business) Rules
Remuneration and the client's best interests
You must not: be remunerated; or remunerate or assess the performance of the firm's employees, in a way that conflicts with their duty to act in each client's best interest. In particular, you must not make any arrangement by way of remuneration, sales target or otherwise that could provide an incentive to the firm or its employees to recommend a particular contract of insurance to a client...
Found in
SRA Financial Services (Conduct of Business) Rules
Consumer credit guidance
Where you undertake credit-related regulated financial services activities, you must have regard to any guidance issued by the SRA from time to time relating to such activities.
Found in
SRA Regulatory and Disciplinary Procedure Rules
Decisions to disqualify a person
An authorised decision maker may decide to disqualify a person under rule 3.1(c) only where they are satisfied that it is undesirable for the person to engage in the relevant activity or activities.
Found in
SRA Regulatory and Disciplinary Procedure Rules
Evidential and procedural matters
The SRA may vary the procedure set out in these rules where it considers that it is in the interests of justice, or in the overriding public interest, to do so. A decision under rule 3 may be made by agreement between the relevant person and the SRA. Before reaching a decision under rule 3, an authorised decision maker or adjudication panel may give directions for the fair and effective...
Found in
SRA Compensation Fund Rules 2021
Grants to defaulting practitioners
The SRA may make a grant to a defaulting practitioner who or which has suffered or is likely to suffer loss by reason of their liability to any client in direct consequence of an act or omission of: in the case of a defaulting solicitor, defaulting REL, defaulting RFL or defaulting RSL any of their employees or any fellow manager; in the case of a defaulting recognised body, any of its...
Found in
SRA Compensation Fund Rules 2021
Foreign lawyers
The SRA shall not make a grant in respect of any act or omission of an REL, or the employee of an REL, where such act or omission took place outside the UK, unless the SRA is satisfied that the act or omission was, or was closely connected with, the act or omission of a solicitor or the employee of a solicitor, or that the act or omission was closely connected with the REL's practice in the...
Found in
SRA Compensation Fund Rules 2021
Refusal of an application
If the SRA refuses to make a grant of either the whole or part of the amount applied for, the applicant will be informed in writing of the reasons for the decision. The fact that an application has been rejected does not prevent a further application being submitted provided that material new relevant evidence or information is produced in support of the new application.
Found in
SRA Indemnity Insurance Rules
Adequate and appropriate insurance
Notwithstanding rule 2.1 above, an authorised body must take out and maintain professional indemnity insurance that provides adequate and appropriate cover in respect of current or past practice taking into account any alternative arrangements the body or its clients may make. An authorised body must ensure that its clients have the benefit of the indemnity insurance required under these rules...
Found in
SRA Indemnity Insurance Rules
Insolvency of participating insurer
If an authorised body is carrying on a practice which is being provided with qualifying insurance by a participating insurer (whether alone or together with another participating insurer) and that participating insurer is the subject of an insolvency event then the authorised body and any principal of the body must ensure that the authorised body has in place qualifying insurance with another...
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