Tribunal bans Aziz from handling client money after £17.9k breach and £25k costs order
Solicitor Iftikhar Aziz has been barred from managing law firms or handling client money after a disciplinary tribunal found he mishandled nearly £17,906.93 of client funds and breached multiple accounting rules.
The Solicitors Disciplinary Tribunal (SDT) heard allegations that while running UK & Co Solicitors Limited, Aziz allowed almost £18,000 to be withdrawn improperly from the client account in January 2020, just as Barclays Bank was closing the firm’s accounts. Instead of transferring funds directly back to clients, the tribunal found Aziz permitted money to be held as physical cash in the firm’s office safe, mixing it with other funds and undermining client protections.
The tribunal ruled that Aziz breached several of the Solicitors Accounts Rules 2019, including:
- Rule 5.1: by allowing unauthorised withdrawal of client money,
- Rule 2.3: by failing to ensure money was promptly deposited into a client account,
- Rule 4.1: by mixing client funds with other monies.
It also found him in breach of Principle 2 (upholding trust in the profession) and Principle 7 (acting in clients’ best interests).
Mismanagement of firm finances
The hearing revealed that by late 2019 the firm held up to £60,000 in cash on site. Investigators uncovered widespread failures in bookkeeping, including the absence of proper reconciliations, inaccurate ledgers, and inconsistent accounts. The tribunal noted that Aziz relied heavily on non-solicitor staff, including a family member, to manage finances with little to no supervision.
By failing to maintain accurate records, Aziz was also found to have breached Rule 1.2(f) of the Accounts Rules 2011, Rule 8.1 of the 2019 Rules, and Principle 8 of the SRA Code of Conduct 2011. The tribunal concluded that client reconciliations were never carried out properly, in breach of Rule 29.12 of the 2011 Rules and Rule 8.3 of the 2019 Rules.
Tribunal’s findings
The SDT described Aziz’s conduct as “ill-conceived but conscious decisions” that risked damaging confidence in the legal profession. While clients were eventually repaid, often in cash, the tribunal said this method placed them at risk and fell far short of professional standards.
It ruled that Aziz demonstrated a “cavalier” approach to client money and continued to pose a risk to the public. While acknowledging that he had not misappropriated funds for personal gain, the tribunal found his actions aggravated by their deliberate and repeated nature over a significant period of time.
Mitigating factors included Aziz’s cooperation during the investigation and his limited means, but the tribunal noted he consistently sought to shift blame onto accountants or colleagues rather than accepting full responsibility.
Sanction and costs
The SDT imposed an indefinite Restriction Order, meaning Aziz cannot:
- Practise as a sole practitioner, partner, or firm manager,
- Act as a compliance officer,
- Hold client money,
- Sign client accounts.
He remains able to work only as an employee in roles approved by the regulator.
In addition, the tribunal ordered Aziz to pay £25,000 in costs, reduced from more than £73,000 in recognition of his financial circumstances. He had argued that his only property carried limited equity and that he lived with minimal savings