SRA Standards and Regulations

Regulated claims management activities

If you are a solicitor, an REL or RFL you may carry on regulated claims management activities or activities that would be regulated claims management activities but for the exclusion in article 89N of the Regulated Activities Order, provided that such work is undertaken through: a body authorised to carry on reserved legal activities; or if the work does not comprise reserved legal activities...

Commencement, replacement, and renewal

The commencement date for a practising certificate or for registration in the register of European lawyers or register of foreign lawyers shall be the date specified by the SRA on the practising certificate or the register. The replacement date for a practising certificate is 31 October following the issue of the certificate. The renewal date for registration in the register of European...

Academic stage

Your eligibility to commence the academic stage of training will be determined according to the requirements, which may be approved by the SRA, of the relevant approved education provider. You may be entitled to credit for prior certified or experiential learning, which may entitle you to exemption from assessment in some subjects required by the Joint Statement. You must make any application...

Determination of applications

If the SRA considers it to be in the public interest to do so, it must: refuse your application for a practising certificate, or your application for registration or renewal of registration, in the register of European lawyers or the register of foreign lawyers; or at any time, whether on grant of such an application or at the end of a period of suspension of a practising certificate or...

Revocation and expiry

The SRA may revoke a practising certificate, or withdraw registration in the register of European lawyers or the register of foreign lawyers, at any time, if the SRA is satisfied: that the practising certificate or registration was granted or renewed as a result of error, misleading or inaccurate information, or fraud; that the replacement or renewal date has passed and an application has not...

Cross-selling requirements where insurance is the ancillary product

When you offer a non-insurance ancillary product or service as part of a package or in the same agreement with an insurance product, you must: inform the client whether it is possible to buy the components separately and, if so must provide the client with an adequate description of: the different components; where applicable, any way in which the risk or insurance coverage resulting from the...

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...

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...

Effect of authorisation

If you are a recognised body or a recognised sole practice authorised by the SRA you are entitled to carry on: all reserved legal activities except notarial activities; and immigration work. If you are a licensed body you are entitled to carry on the activities set out in rule 5.1, in accordance with the terms of your licence. An authorised body may only carry on a reserved legal activity...

Record of commissions

Where you receive commission which is attributable to your regulated financial services activities, you must keep a record of: the amount of the commission; and how you have accounted to the client.