- Publication Date
- 2021-07-27
The Solicitors Regulation Authority (SRA) conducted an audit of the law firm in reference to compliance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs 2017). These regulations came into force in June 2017, mandating law firms undertaking particular types of work to comply.
The SRA required all relevant firms to complete a declaration confirming the existence of a compliant anti-money laundering firm-wide risk assessment by January 2020. The law firm failed to provide the required declaration until May 2021.
Following this breach, the SRA imposed a financial penalty of £800 on the law firm.
This decision was made public in June 2021.