without instruction and ‘caused and materially contributed’ to the firm’s money laundering regulation failures.

Jeremy Bennett, admitted in October 1989, was the former owner and solicitor of Sheffield-based firm 7 Legal and Finance Limited. He was sanctioned as part of an agreed decision with the Solicitors Regulation Authority. Bennett was fined £4,273, agreed to the publication of the agreement on the SRA website and must pay costs of the investigation of £600.

The regulator received a report from Pennine Law Limited, where Bennett was working as a consultant, in January 2024. An SRA investigation ‘identified areas of concern in relation to Mr Bennett’s compliance’ with money laundering regulations, SRA Accounts Rules, SRA Principles and the Code of Conduct.

Bennett was instructed by ‘Client A’ to assist in the creation of a trust structure. Between 28 November 2022 and 6 December 2022, the firm’s client account received three deposits from the beneficiaries of the trust, totalling £9,141,862.47. The SRA said Bennett ‘then allowed the funds to be dispersed from the firm’s client account to two third parties'. There was no correlating ledger on the file itemising the transactions, it said.