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Law firms are tasked with determining the portion of earned interest to be allocated to clients. The challenge lies in establishing a uniform approach that adheres to regulatory obligations (SRA Accounts Rules, Rule 7.1) and can be readily articulated within the client interest policy

 

The attached document serves as a guide.

 

Essentially, the rates displayed represent the rate paid on your general client account. Since the rates are consistent across designated and general client accounts, you can utilise the tiered rates to determine the compensation for clients.

 

This ensures that clients are remunerated at the same rate as if their funds were placed in a designated account under their name

Are you paying clients the correct interest rate?

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