Mishcon de Reya Fined £232,500 for Anti-Money Laundering Failures
Mishcon de Reya, active in group litigation including the Google “Safari Workaround” data case and COVID-19 business interruption claims, was fined £232,500 by the SRA for anti-money laundering breaches. While not specific to mass claims, it represents one of the largest SRA fines against a major group litigation firm. Sources Law Gazette: Mishcon de Reya fined £232,500 over numerous AML failings
SRA Launches Mandatory Compliance Declarations for 700+ High-Volume Claims Firms
The SRA has introduced mandatory compliance declarations for over 700 law firms handling high-volume consumer claims. This follows a thematic review of 129 firms managing more than 2.4 million claims, which found widespread failures: only 11 of 25 visited firms could demonstrate sharing required client care information, only 12 had shared costs information, and there were systemic failures in client identification and sanctions screening. At least 95 investigations into 76 firms are now open. Sources SRA acts on concerns about law firm practices on high-volume claims Law Gazette: High-volume claims outfits must declare they understand the rules
