What does SRA v Dentons tell us about the role of solicitors in preventing money laundering and what approach the SRA is now likely to take towards any shortcomings? – 4 New Square
‘In March 2024, the Solicitors Disciplinary Tribunal rejected the SRA’s case that by failing to carry out adequate checks on a “politically exposed person” under the Money Laundering Regulations 2007 (“the 2007 MLRs”), Dentons had breached Principle 7 of the SRA Principles 2011 and/or Outcome 7.5 of the SRA’s Code of Conduct 2011. A year later, however, on 11 March 2025, the High Court overturned that decision in SRA v Dentons UK & Middle East LLP [2025] EWHC 353 (Admin) and remitted the case to the SDT for further consideration.’
4 New Square, 24th March 2025
Source: www.4newsquare.com