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Dentons to face SDT over wealth checks on former client
25 July 2023

Dentons, the world’s biggest law firm, is facing allegations before the Solicitors Disciplinary Tribunal that it breached anti-money laundering regulations.

The tribunal has certified there is a case to answer in respect of the firm’s alleged failure to take adequate measures to establish a client’s source of wealth.

An SRA notice today states that the allegations relate to a period between May 2013 and June 2017 when Dentons acted for a ‘politically exposed person or his associated entities’.

It is alleged that the firm breached the Money Laundering Regulations 2007 by failing to comply with its legal and regulatory obligations, failing to run the business effectively in accordance with proper governance and sound financial and risk management principles and failing to comply with anti-money laundering legislation.

It is alleged that such conduct failed to maintain the trust the public places in the firm and in the provision of legal services.

The allegations are subject to a hearing before the tribunal and are as yet unproven. The hearing is expected to take place later this year.

In a statement, the firm said: ‘Dentons has co-operated fully with the SRA throughout this investigation, which relates to a former client, and we will continue to do so. As a firm we are committed to strict compliance with all laws, regulations and professional standards of the jurisdictions we operate in.’

Source: The Law Society Gazette, 25th July 2023

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