To gain or renew their Practising Certificates, most solicitors must contribute to the Law Society’s Legal Practitioners Fidelity Fund. Corporate legal practitioners and government legal practitioners are exempt.
What does the Fidelity Fund do?
Administered by the Law Society under provisions in the legal profession legislation, the Fund exists to compensate persons who suffer pecuniary loss due to defaults by law practices arising from dishonest acts or omissions of associates of the practice relating to trust money or property.
How is my Fidelity Fund fee set?
The amount of your Fidelity Fund contribution may change from year to year. The Law Society Council considers how much is currently in the Fund and the type and number of claims that are made in order to establish the fee amount. Before being charged to solicitors the fee set by the Council must be approved by the Attorney General.
Advertisement for claims
The Law Society may advertise in the press if it has fixed a final date for receipt of Fidelity Fund claims against a law practice. The current advertisements can also be viewed on the Current Notices page.
Claims must be received by the Law Society no later than the final date fixed in the advertisement. A late claim will only be considered if the Council of the Law Society allows further time.