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Version 8 of the SRA Accounts Rules 2011 Published

1 October 2013

On 1st October 2013, the Solicitors Regulation Authority (SRA) published version 8 of the SRA Handbook 2011 which included a number of updates to the SRA Accounts Rules 2011 (incorrectly referred to as the SRA Accounts Rules 2013 in the SRA's Release Notes!).

For Compliance Officers for Finance and Administration (COFA), the most significant change is likely to be the amendments made to guidance note (i) of rule 6 of the SRA Accounts Rules 2011, as a result of the second phase of the Red Tape Initiative, to reflect the removal of the obligation of a COFA of a recognised body/recognised sole practitioner to report non-material breaches to the SRA.

Version 8 of the SRA Handbook 2011 incorporates some radical changes to the regulation of overseas practices with the introduction of the SRA Overseas Rules 2013. These changes have resulted in the introduction of new definitions in Part 7 of the SRA Accounts Rules 2011 for clarification purposes and to ensure consistency with the SRA Handbook Glossary.

Consequential amendments have been made throughout the SRA Accounts Rules 2011 following the abolition of the Legal Services Commission and its replacement by the Legal Aid Agency.

You can download the latest version of the SRA Accounts Rules 2011 (in PDF format) by clicking the relevant links below:

SRA Accounts Rules 2011 (version 8)SRA Accounts Rules 2011 (version 8) - Appendix 1SRA Accounts Rules 2011 (version 8) - Appendix 2SRA Accounts Rules 2011 (version 8) - Appendix 3SRA Accounts Rules 2011 (version 8) - Appendix 4SRA Accounts Rules 2011 (version 8) - Appendix 5

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