The following Practice Compliance guidance note Produced in partnership with Institute of Legal Finance and Management provides comprehensive and up to date legal information covering:
The SRA AR 2011 require specific authority for a withdrawal from client account by an appropriate person. This practice note aims to help you consider who should have authority to authorise withdrawals from client account and what to consider when formulating procedures for client account withdrawals
A withdrawal from a client account can be made only after:
a specific authority
has been signed by an appropriate person or persons
in accordance with the firm’s procedures for signing on client account
The authority to withdrawal from client account can be signed electronically, subject to appropriate safeguards and controls.
You must put in place appropriate systems and procedures governing withdrawals from client account, including who should be permitted to sign on client account. .
There is no need to comply with SRA AR 2011 r 21.1 when transferring money from one general client account to another general client account at the same bank or building society.
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