Crooked Lawyer jailed for stealing client funds

Clients should NEVER FALL INTO THE TRAP of thinking that lawyers put clients interests before that of the lawyer who simply wants to maximize his fees

Wednesday 18 November 2009

Authority: made under sections 32, 33A, 34 and 37 of the Solicitors Act 1974and section 9 of the Administration of Justice Act 1985 with the concurrence, where requisite, of the Master of the Rolls under those sections and of the Lord Chancellor under paragraph 16 of Schedule 22 to the Legal Services Act 2007;

date: 22nd July 1998;

replacing: the Solicitors' Accounts Rules 1991, the Solicitors' Accounts (Legal Aid Temporary Provision) Rule 1992 and the Accountant's Report Rules 1991;

regulating: the accounts of solicitors and their employees, registered European lawyers and their employees, registered foreign lawyers, and recognised bodies and their managers and employees, in respect of practice in England and Wales.

Part A – General

Rule 1 – Principles

A solicitor must comply with the requirements of rule 1 of the Solicitors’ Code of Conduct 2007, and in particular must:

    • (a)

      keep other people's money separate from money belonging to the solicitor or the practice;

    • (b)

      keep other people's money safely in a bank or building society account identifiable as a client account (except when the rules specifically provide otherwise);

    • (c)

      use each client's money for that client's matters only;

    • (d)

      use money held as trustee of a trust for the purposes of that trust only;

    • (e)

      establish and maintain proper accounting systems, and proper internal controls over those systems, to ensure compliance with the rules;

    • (f)

      keep proper accounting records to show accurately the position with regard to the money held for each clientand trust;

    • (g)

      account for interest on other people's money in accordance with the rules;

    • (h)

      co-operate with the SRA in checking compliance with the rules; and

    • (i)

      deliver annual accountant's reports as required by the rules.

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