SRA fines Peter Bonner & Co for failing to submit AML compliance data
Peter Bonner & Co has been fined £750 by the Solicitors Regulation Authority after failing to provide requested anti-money laundering (AML) and sanctions data.
The decision, dated 17 April 2026 and published on 20 April 2026, also requires the firm to pay £150 in investigation costs. The sanction was imposed following the firm’s failure to respond to a formal request for information from the regulator.
According to the SRA, law firms are required to provide full and accurate information promptly when requested, particularly in relation to AML and sanctions compliance. These obligations form part of the regulatory framework designed to prevent financial crime and ensure transparency within the legal sector.
The SRA found that Peter Bonner & Co did not submit the requested data despite being asked to do so. The firm was subsequently given notice of the breach and a reasonable opportunity to rectify the issue but failed to comply within the specified timeframe.
This conduct was found to be in breach of paragraph 3.3(a) of the SRA Code of Conduct for Firms, which requires firms to cooperate with the regulator and provide information when requested.
The regulator determined that a fixed financial penalty was appropriate in the circumstances. Such penalties are commonly applied where firms fail to meet administrative or reporting obligations, including responding to regulatory requests.
The SRA did not provide further details about the nature of the requested AML or sanctions data, nor did it indicate any evidence of harm to clients or misuse of funds.
Peter Bonner & Co operates as a recognised sole practice based on Lee High Road in London. As a regulated entity, it is subject to ongoing obligations to comply with the SRA’s standards and regulatory requirements.
The decision highlights the importance placed by the regulator on timely engagement with compliance processes. Failure to respond to requests for information can result in enforcement action, even where no substantive misconduct has been identified.
The SRA has continued to emphasise the role of firms in supporting efforts to combat money laundering and enforce sanctions compliance. Providing accurate and timely data is considered a core regulatory responsibility.
The sanction serves as a reminder that firms must maintain appropriate systems to meet their reporting obligations and respond promptly to regulatory enquiries.