General

• To fail to lodge, without reasonable cause, all client money received to the appropriate client account(s)
• To fail to record, without reasonable cause, said money in the practice’s accounting records
• Holding monies in the client account to which the solicitor is beneficially entitled for more than 3 months, for eg
  • • Money due to the solicitor in respect of professional fees, which the solicitor is entitled to transfer from client account to office account
    • Outlays expended by the solicitor, which they are entitled to withdraw from the client account
    • Money held on a client matter which the solicitor is beneficially entitled to share with one or more other clients, to the extent of the amount of the share of the solicitor
• Mingling Insolvency Arrangement monies with those of the practitioner or any other client
  • • Any insolvency arrangement monies received must only be lodged to the insolvency arrangement account
• Withdrawing more monies from a client account than is held on behalf of the client concerned, thus causing a debit balance to arise on the client ledger account, unless the debit is completely offset by a credit on another ledger held in respect of the same client
  • • In this instance, a matter to matter transfer should be posted
• Withdrawing funds from a client bank account to discharge personal or office expenditure
• Causing, and not correcting in a timely manner, a credit balance on the office side of a client ledger, providing it is not offset in its entirety by a debit balance on another ledger or ledgers held in respect of the same client
  • • In this instance, fees, outlays and receipts should be checked and reallocated to the correct matters
• Taking fees, interim fees or outlays not properly due at the time of the withdrawal