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Anon at 09:20 I am not sure that on the face of it the SRA need to get involved. This is an action in Australia against the S and G parent company to compensate shareholders who were allegedly mislead by the company to induce them into investing in the company. It has nothing to do with clients money
With regard to your second point I think you will find that the solicitors accounts rules specifically provide for payment of clients money to charity under rules 20.1 and 20.2.

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