Solicitors’ opinions wanted on client accounts

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The Law Society is asking solicitors for opinions on the future of accounts rules ahead of an SRA review expected in the spring. A consultation lists options ranging from retaining the current arrangements to removing the requirement for a separate client account altogether.

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  • Please don't even think of an escrow account. In France it usually takes litigants about three weeks in my experience to get their hands on their money. Just imagine the chaos on Fridays when everyone seems to want to complete his house sales and purchases these days (and about five days after exchange!).

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  • The best idea thus far has been an escrow account run by the said Claims Handling Society.

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  • David, the option of an escrow account is not listed amongst the Law Society proposals.

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  • Thanks Ian, but those who regulate us can never be told too many times what not to do. And occasionally, no often, they stray off agenda anyway.

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