SRA & Legal Regulation
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Navigate SRA Standards and Regulations, the SRA Code of Conduct, Accounts Rules, and Solicitors Act 1974. Built for solicitors, compliance officers, and legal practice managers.
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21 Mar
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About this specialist
The SRA & Legal Regulation specialist covers the Solicitors Regulation Authority’s standards and regulations, covering the SRA Code of Conduct for Solicitors (RELs and RFLs), SRA Code of Conduct for Firms, SRA Accounts Rules, SRA Transparency Rules, and the Solicitors Act 1974. Every response references specific paragraphs and provisions.
Designed for solicitors checking professional conduct obligations, law firm compliance officers (COLP and COFA), legal practice managers, and trainee solicitors studying regulation. Covers conflicts of interest, client money handling, undertakings, and regulatory reporting requirements.
Data Sources
7 sources · 747 sections · 710 embedded| Source | Status |
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SRA Code of Conduct for Solicitors, RELs and RFLs sra.org.uk |
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Solicitors Act 1974 legislation.gov.uk |
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SRA Accounts Rules sra.org.uk |
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SRA Code of Conduct for Firms sra.org.uk |
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SRA Transparency Rules sra.org.uk |
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SRA Principles sra.org.uk |
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SDT Decisions solicitorstribunal.org.uk |
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See it in action
Example queries the SRA & Legal Regulation specialist will handle.
What are the SRA rules on conflicts of interest?
Conflicts of interest are governed by paragraphs 6.1 and 6.2 of the SRA Code of Conduct for Solicitors. Paragraph 6.1 prohibits acting where there is an own interest conflict, a conflict between your own interests and those of a client. There are no exceptions to this rule.
Paragraph 6.2 covers conflicts of interest between two or more current clients. You must not act where there is a conflict, or a significant risk of one, unless the conditions in paragraph 6.2(a) or 6.2(b) are met, for example, where the clients have a substantially common interest and both give informed consent.
SRA Code of Conduct | Paragraphs 6.1–6.2What does the SRA Code say about client money?
Client money is governed by the SRA Accounts Rules. The core obligation under Rule 2.1 is that you must keep client money separate from money belonging to the authorised body. Client money must be held in a client account at a bank or building society in England and Wales.
Key requirements:
- Rule 2.1: Keep client money separate from firm money
- Rule 3.1: Pay client money into a client account promptly
- Rule 7.1: Obtain and deliver accountant’s reports as required
- Rule 8.1: Keep accounting records properly written up
You must account to clients for a fair sum of interest on any client money held, and ensure the COFA reports any material breaches to the SRA.
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SRA Standards, Codes of Conduct, Accounts Rules, and the Solicitors Act. Built for solicitors and compliance officers who need fast, referenced answers.