Financial compliance & AML

The accounts rules govern the way firms must manage their financial records and, in particular, client money. The rules not only provide a framework for firms but also set a benchmark for the standard of financial control that clients may expect from their solicitor. 

The accounts rules and associated guidance can be found in our rules and guidance section: B6: Accounts, Accounts Certificates, Professional Practice & Guarantee Fund. This includes the rules and guidance regarding accounts certificates.

If you have a question or query, please email fincomp@lawscot.org.uk and someone from the team will get back to you as quickly as possible.

Should you have any queries regarding the department or our work, please contact:

Ian Messer
Director of Financial Compliance
The Law Society of Scotland
Atria One
144 Morrison Street
Edinburgh
EH3 8EX

Telephone: 0131 226 8897
Fax: 0131 226 7884
Email: fincomp@lawscot.org.uk

This is because where the lender is the solicitor’s client, the CML handbook represents the clients instructions.   The Client Protection Sub Committee have agreed that “failure to follow the lenders instructions as contained within the CML Handbook is considered a breach of the Accounts Rules (B6.5.1(C)) of the Practice Rules 2011 and prior to 1 November 2011, Rule 6(1)(C ) of the Solicitors (Scotland) Accounts etc Rules 2001).

The approach taken by the Financial Compliance Department and Client Protection Fund Sub Committee is summarised in the 'Regulation and the CML Handbook'.

Several cases of non-compliance with the CML Handbook and the accounts rules can be reviewed in the Scottish Solicitors’ Discipline Tribunal (SSDT) annual reports.