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Expert team represents solicitor facing SRA fraud investigation

13 September 2010

Our professional discipline & regulation solicitors represented a North-West firm which was subject to an SRA investigation.

The SRA investigation focused on a number of transactions in 2005-2006 which were dealt with in part by the conveyancing partner. The SRA suggested the transactions bore the hallmarks of fraud as well as a failure to disclose that the seller had not held the property for over six months.

Having considered in detail copies of the firm’s conveyancing files, our professional discipline team were able to compile a range of evidence which illustrated that the firm had in place sufficient training, checks and supervision to satisfy its Money Laundering and Law Society obligations. The evidence also included correspondence from one of the institutional lenders concerned, showing that the lenders had waived their requirements under the CML Handbook for the purposes of these transactions. Matters such as these would almost always result in a referral to the Solicitors Disciplinary Tribunal; however, as a result of the evidence put forward on behalf of the firm and the representations made by the professional discipline team the partners received regulatory reprimands.