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Headline

City firms move to safeguard client accounts

Comment

City firms move to safeguard client accounts On what basis can one say that 'the firm would generally be safe from legal action from the client unless the firm was negligent in choosing a bank'? There would be an immediate breach of the SAR because the required funds per the solicitors' accounts were no longer held in the bank account. Solicitors' terms of business do not usually provide that the risk is with the client (and even that may not be a complete solution.) There may be answers to this issue but they are not obvious, and I doubt lack of negligence is one of the available defences.

Posted date

8-Oct-2008

Posted time

2:33 pm

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