Andrew Katzen in Times on SRA’s enforcement focus on anti money laundering breaches
18 Jan 2024
Head of Regulatory law Andrew Katzen has been quoted in The Times newspaper discussing the SRA’s investigatory focus on suspected breaches of anti-money laundering procedures.
The Times’ article was prompted by SDT’s decision to fine a law firm over £500,000 for AML procedural breaches (and with no actual money laundering activity having taken place).
Andrew explained that the SRA is investigating many suspected similar breaches, and that this fine is likely to be a harbinger, not least because the regulator is lobbying the Legal Services Board for unlimited fining powers.
Read the full article here.