Spalding law firm fined for years of AML compliance failings and ordered to pay SRA costs
Maples Solicitors LLP, a licensed body based in Spalding, has been fined £29,647 by the Solicitors Regulation Authority (SRA) following failures to comply with anti-money laundering (AML) regulations. The regulatory settlement agreement, dated 9 September 2025 and published on 26 September 2025, also requires the firm to pay £600 towards the costs of the investigation.
The sanction follows a review carried out by the SRA’s AML Proactive Supervision team, which identified weaknesses in the firm’s compliance with the Money Laundering, Terrorist Financing (Information on the Payer) Regulations 2017. The investigation found that between January 2021 and February 2025 the firm failed to establish and maintain fully compliant policies, controls and procedures designed to mitigate the risks of money laundering and terrorist financing. It also failed to conduct regular reviews and updates of these measures, as required under Regulation 19 of the 2017 regulations.
The SRA further noted that of the eight files examined, Maples Solicitors had not maintained records of client risk assessments as required under Regulation 28. As a result, the firm was unable to demonstrate that appropriate steps had been taken to assess risks in individual client matters. The absence of such records increased the potential vulnerability of the practice to being used for illicit purposes.
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The firm admitted the breaches and accepted that it had failed to comply with multiple regulatory obligations, including paragraph 2.1(a) of the SRA Code of Conduct for Firms, which requires firms to have effective governance systems and controls in place, and paragraph 3.1, which requires firms to keep up to date with and follow relevant law and regulation. It also admitted breaching Principle 2 of the SRA Principles 2019, which requires solicitors to act in a way that upholds public trust and confidence in the profession.
Although the SRA found no evidence of consumer harm or financial gain, it said the failings showed a disregard for statutory and regulatory obligations and created risks that could have facilitated money laundering. Conveyancing, which accounts for nearly half of the firm’s turnover, was highlighted as a particularly high-risk area in the government’s National Risk Assessment, making compliance in this area critical.
The regulator acknowledged that the firm has since taken remedial steps, including the introduction of compliant policies, controls and procedures and a risk assessment process for clients and matters. It also noted the firm’s cooperation with both the AML Proactive Supervision and Investigations teams. These mitigating factors were considered in determining the level of the fine, which was reduced from an initial calculation of £34,879 to £29,647.
The SRA said a financial penalty was the appropriate sanction in this case because it would act as a credible deterrent to other firms and signal the importance of meeting AML obligations. It stressed that the public expects solicitors to comply fully with regulatory requirements as a basic safeguard against financial crime.
In addition to the fine, the firm must pay £600 towards the costs of the SRA’s investigation. The regulator confirmed that under section 87 of the Legal Services Act 2007 it is required to publish details of enforcement action taken against licensed bodies.
The agreement also stipulates that Maples Solicitors must not deny the admissions made or act inconsistently with the settlement. Any departure from the terms of the agreement could lead to further disciplinary proceedings or referral to the Solicitors Disciplinary Tribunal.
The decision underscores the regulator’s focus on anti-money laundering compliance, an area it has repeatedly identified as a priority risk for the legal sector.