Are the bank accounts SRA and OPG compliant.

Absolutely. The accounts are individual, segregated and FSCS protected and are opened in the name of the client. The deputy or attorney’s details can be linked to the account also. This enables solicitor deputies to meet their SRA Accounts Rules 2011 (SARS) and obligations under the Mental Capacity Act 2005.

The OPG released this Practice Note in 2016 providing clarification of their stance in respect to solicitor-client accounts.

Tag: opg and sra banking rules
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