The Law Society has published new Solicitors Accounts Regulations which come into force on 1 July 2023 replacing most of the Solicitor Accounts Regulations 2014.
The updated regulations include several new provisions on the handling of client moneys and client accounts. As well as solicitors, the regulations will also have implications for reporting accountants and Law Society investigations.
For full information on the significant changes that impact solicitors see the Law Society webpage.
The new regulations can be accessed here.