Financial services

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Practice notes
This Practice Note provides guidance on client due diligence (CDD) which is a central pillar of the anti-money laundering (AML) and counter-terrorist...
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12th Oct
Practice notes
This Practice Note lists high-risk third countries identified by the Financial Action Task Force (FATF), HM Treasury and the European Commission as...
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9th Oct
Practice notes
Source of funds and wealth was a key focus of the SRA’s Preventing Money Laundering and Financing of Terrorism thematic review, published in March...
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9th Oct
Practice notes
The way the Solicitors Regulation Authority (SRA) regulates the solicitors’ profession has been evolving since its inception—from a prescriptive...
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8th Oct
Precedents
1DefinitionsModern Slavery Policy•means the Customer's anti-slavery and human trafficking policy as set out in Schedule [insert] as updated by the...
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30th Sep
Practice notes
The compliance officer for legal practice (COLP) sits at the heart of the firm's regulatory arrangements. This does not mean that the firm and its...
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27th Sep
Practice notes
Closing a client matter properly is a basic client care, risk management and housekeeping requirement. There are also regulatory and best practice...
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26th Sep
Practice notes
This Practice Note deals with regulatory requirements and practical issues regarding the form and content of a final bill of costs to a client. It...
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26th Sep
Practice notes
This Practice Note is based on reporting requirements in the SRA Codes of Conduct 2019 (in force from 25 November 2019) as amended by the SRA...
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26th Sep
Precedents
How to use this testThese questions are designed to test your understanding after your attendance at our training on avoiding bribery and...
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26th Sep
Practice notes
An undertaking is a commitment by a solicitor to do something. It can be enforced against the solicitor by the courts. Failure to comply with an...
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26th Sep
Practice notes
This Practice Note explains:•what powers the court has to enforce undertakings•when it is likely to exercise those powersBreach of an undertaking is...
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25th Sep
Practice notes
This Practice Note provides guidance on the SRA Codes of Conduct, contained in the SRA Standards and Regulations, in force from 25 November 2019. The...
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25th Sep
Practice notes
This Practice Note lists all new and updated content to reflect the SRA Standards and Regulations, in force from 25 November 2019.The Standards and...
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25th Sep
Practice notes
This Practice Note sets out the requirements of the SRA Accounts Rules 2019 (the 2019 Rules), in force from 25 November 2019, together with supporting...
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25th Sep
Practice notes
Brexit: As of exit day (31 January 2020), the UK is no longer an EU Member State, but it has entered an implementation period during which it...
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2nd Sep

Most recent Financial services content

Practice notes
There are two ways in which law firms might be caught by the consumer credit regime:•by entering into a fee arrangement with a client that constitutes...
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25th Sep
Practice notes
This Practice Note explains how the SRA’s consumer credit regime operates from 1 April 2016 following amendments to the SRA Financial Services (Scope)...
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25th Sep
Practice notes
This Practice Note sets out a number of activities firms may engage in that stray into the realms of consumer credit. For each activity, the Practice...
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25th Sep
Practice notes
This Practice Note addresses the common necessity of accepting payment by instalments of an outstanding bill. The SRA has issued a case study...
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25th Sep
Practice notes
There are two ways law firms might be caught by the consumer credit regime:•by entering into a fee arrangement with a client that constitutes a...
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25th Sep
Practice notes
This Practice Note has been archived and is not maintained. It relates to the insurance mediation regime applying to law firms before 1 October 2018....
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26th Sep
Precedents
1Client’s demands and needsWhat risk does the client need to insure and why?[Describe the risk the client needs to insure and why]What checks have you...
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26th Sep
Precedents
[Insert type, eg Title indemnity] insurance[Explain what sort of insurance contract you are recommending, eg ‘We have recommended that you purchase...
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26th Sep
Precedents
We have reached a stage in your matter where we believe it would be in your best interests to buy [insert type of insurance] from [state name of third...
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26th Sep
Precedents
We have reached a stage in your matter where we believe it would be in your best interests to buy [insert type of insurance] from [state name of third...
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26th Sep
Precedents
After-the-event costs insurance[Explain what sort of insurance contract you are recommending, eg ‘We have recommended that you purchase after the...
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26th Sep
Precedents
We have reached a stage in your matter where we believe it would be in your best interests to buy [insert type of insurance]. We have suggested you...
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26th Sep
Precedents
Click for the Precedent Insurance analysis spreadsheet. This Precedent Insurance analysis spreadsheet is intended for law firms and is presented in...
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26th Sep
Practice notes
As a general rule, law firms are not permitted to engage directly in insurance distribution activities, unless they are licensed by the FCA. This...
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26th Sep
Practice notes
This Practice Note explains additional regulatory requirements that apply when you introduce a client to a third party for financial services,...
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27th Sep
Practice notes
There are two ways in which law firms might be caught by the consumer credit regime:•by entering into a fee arrangement with a client that constitutes...
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27th Sep
Precedents
There are two ways law firms might be caught by the consumer credit regime: firstly, by entering into a fee arrangement with a client that constitutes...
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27th Sep
Precedents
There are two ways law firms might be caught by the consumer credit regime: firstly, by entering into a fee arrangement with a client that constitutes...
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27th Sep
Q&As
This obligation derives from the SRA COB Rules, r 12.4: ‘where you have given a personal recommendation to the client, you must, in addition to the...
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28th Sep
Q&As
Failure to comply with the insurance distribution regime could represent a breach of the:•SRA Handbook (the Financial Services Scope and Conduct of...
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28th Sep

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