SRA fines Elgee Pinks £2,987 after finding prolonged failures in anti-money laundering controls
Elgee Pinks LLP has been fined by the Solicitors Regulation Authority (SRA) after admitting long-running failures to comply with anti-money laundering (AML) regulations, following a regulatory investigation triggered by a desk-based review.
The Reigate-based firm, a recognised body authorised by the SRA, agreed to a regulatory settlement under which it will pay a financial penalty of £2,987 and £600 in investigation costs. The outcome was reached by agreement and was published on 12 December 2025.
The SRA’s investigation, carried out by its Proactive Supervision team, identified significant concerns about Elgee Pinks’ compliance with both the Money Laundering Regulations 2007 and the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
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According to the regulator, between October 2011 and June 2017, the firm failed to maintain appropriate and risk-sensitive policies and procedures designed to prevent money laundering and terrorist financing. These requirements were set out under regulation 20 of the 2007 regulations.
The SRA also found that from June 2017 until November 2025 the firm failed to regularly review and update its policies, controls and procedures, as required under regulation 19 of the 2017 regulations. In addition, between June 2017 and April 2021, Elgee Pinks did not keep an up-to-date written firm-wide risk assessment, contrary to regulation 18 of the 2017 framework.
The firm admitted that these failures amounted to breaches of its professional obligations. For conduct before November 2019, it accepted that it failed to comply with anti-money laundering legislation and breached principles requiring it to maintain public trust and operate with effective governance and risk management. For conduct after November 2019, it admitted breaching principles requiring firms to uphold public confidence in the profession and maintain effective systems, controls and compliance with the law.
In deciding that a financial penalty was the appropriate outcome, the SRA said the firm’s conduct demonstrated a disregard for statutory and regulatory obligations and had the potential to cause harm. The lack of a compliant AML control environment left the firm vulnerable to being used for money laundering or terrorist financing, even though no evidence of actual harm was identified.
The regulator acknowledged mitigation put forward by Elgee Pinks, including that the firm has now reviewed and amended its AML controls and is compliant with the 2017 regulations. The firm also cooperated fully with the investigation and admitted the breaches at an early stage.
The SRA assessed the seriousness of the conduct as “more serious”, given its persistence over a long period, but assessed the impact or risk of harm as low. This placed the penalty within Band B under the regulator’s guidance. While the starting point for the fine was £3,319, this was reduced to £2,987 to reflect the mitigation.
The SRA said publication of the outcome was appropriate in the public interest, emphasising transparency and the importance of maintaining confidence in the profession. The firm has agreed not to deny the admissions or act inconsistently with the settlement, with any breach potentially leading to further regulatory action.