City firm says it’s ‘reviewing’ charges
Clyde & Co is set to face a Solicitors Disciplinary Tribunal (SDT) over alleged historic money laundering rule breaches, according to a notice published this week.
The Solicitors Regulation Authority (SRA) states that the allegations relate to “the firm’s handling of a number of matters” over four years on behalf of an unnamed client, “involving failure to comply with anti-money laundering procedures and breach of money laundering regulations”.
A former partner with the firm, Ed Mills-Webb, is also facing a tribunal over allegations relating to anti-money laundering breaches. He resigned from the firm in 2019.
The allegations are subject to a hearing before the SDT and are as yet unproven.
Responding to the notice, a spokesperson or Clydes said:
“In early 2019 we suspended a partner, Ed Mills-Webb and referred him to the Solicitors Regulation Authority of England & Wales in relation to matters concerning the application of the SRA Code of Conduct 2011 and the SRA Accounts Rules 2011. We assisted the SRA fully with its investigations and during that time Ed Mills-Webb resigned from the firm.”
It continued: “We are aware that the SRA has decided to charge the firm as well as Ed Mills-Webb in relation to breaches of the Money Laundering Regulations and procedures relating to a client and companies used by the client. We hold ourselves to the highest professional and ethical standards and take responsibility for ensuring we meet them, and we are reviewing these charges. It would be inappropriate to comment further.”
Legal Cheek has approached Mills-Webb for comment.
