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Law Society Revises Banking Crisis Practice Note
22 January 2009
The Law Society have issued revised guidance for solciitors on the handling of clients' money during the continuing banking crisis.
The Law Society's banking crisis practice note, designed to provide guidance to solicitors during the present crisis, has been updated yet again. The latest version, dated 9 January 2009, contains updated guidance in the following key areas -
- new advice on handling the changes to interest rates
- confirmation that the Financial Services Compensation Scheme applies to client money as to other banking deposits and more information on how to obtain compensation, where necessary
- further clarification on undertakings
You can view the latest practice note on the Law Society's website or download a PDF version by clicking the link below -
Banking Crisis Practice Note - 09_01_08
If you require advice on any issues arising from this practice note or general matters concerning the handling of clients‘ money and the Solicitors’ Accounts Rules then Legal Finance Professionals Limited can help through our CPD accredited training courses and specialised consultancy services.
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