Clyde & Co in joint-record £50,000 fine

Three corporate partners also fined for breaches of Accounts Rules

04 Apr 2017

The Solicitors Disciplinary Tribunal has handed Clyde & Co a joint-record £50,000 fine and given three of its partners £10,000 fines each after the firm’s client account was used as a banking facility.

Clydes and its corporate partners, Christopher Duffy, Simon Chamberlain, and Nick Purnell, admitted acting contrary to the Solicitors Regulation Authority’s Accounts Rules and failing to act in accordance with their obligations under the Money Laundering Regulations 2007.

The firm, Duffy, and Purnell also admitted failing to heed the Law Society’s guidance on fraudule...

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