Details behind one of the largest penalties awarded against a law firm by the Solicitors Disciplinary Tribunal (SDT) have been released after Clyde & Co received a fine of £50,000, while three partners also were also fined £10,000 for breaching accounting and money laundering rules.
In a case brought by the Solicitors Regulation Authority (SRA), corporate partners Christopher Duffy, Simon Gamblin and projects partner Nick Purnell admitted they allowed a client bank account to be used as a banking facility, acting against SRA accounting rules and in breach of obligations under money laundering regulations.
