Can Solicitors Use A Third Party Account For Client Money?

[Jonathan LeaKeymaster]

There is nothing to stop SRA regulated law firms from using a third party escrow account for client monies instead of operating their own client account.

Here are the relevant SRA links for the changes to the Solicitors Accounts Rules and the promotion of Third Party Management Accounts and the recent guidance published by the SRA on the treatment of these under the current rules.

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