Decisions to impose a financial penalty
You are reading current version in effect from 25 November 2019
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You are reading current version in effect from 25 November 2019
Guidance
Guidance
The SRA's approach to financial penalties - GuidanceGuidance: for our decision makers to assist them in arriving at an appropriate financial penalty for the individuals and firms we regulate.
Decision-making, reviews and attendance proceduresThis document sets out how we make a first instance decision (FID) and how we deal with an application for an internal review of that decision.
Glossary terms
authorised decision maker
in relation to a decision, means a person authorised to make that decision by the SRA under a schedule of delegation
solicitor
means a person who has been admitted as a solicitor of the Senior Courts of England and Wales and whose name is on the roll.
authorised person
- subject to sub-paragraph below, means a person who is authorised by the SRA or another approved regulator to carry on a legal activity as defined under s12 of the LSA and the term "non-authorised person" shall be construed accordingly; and
- in the SRA Financial Services (Scope) Rules, has the meaning given in section 31 of the FSMA
SRA
means the Solicitors Regulation Authority
person
includes a body of persons (corporate or unincorporated)
prescribed
means prescribed by the SRA from time to time