ASHFORDS FINED

National firm Ashfords agreed to a fine of £16,200 under a regulatory settlement agreement after admitting improperly using client account as a banking facility. This related to an arrangement which permitted third parties to pay money into client account in connection with seven separate building projects before being paid out, even though no significant element of legal services was carried out. More than £1m was involved. The breach was revealed during an internal training session. The firm also paid £1,350 in costs. 23 December 2020

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