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The Solicitors Regulation Authority has taken the unusual step of restoring a solicitor’s practising certificate after discovering he was not a partner in a law firm that was the subject of an intervention.

Plans to offer solicitors the option of a “third-party managed accounts” instead of the traditional client account have divided opinions, with some criticising a lack of detail and questioning whether the move would reduce fraud.

The Solicitors Regulation Authority is proposing to cut further the number of law firms required to submit annual accountants’ reports, setting out a revised set of criteria for accountants to decide whether reports should be qualified.