https://www.law.com/2024/08/22/firms-fear-the-pr-hit-not-the-sanction-big-law-on-edge-after-simpson-thacher-aml-prosecution-292-189666/
Solicitors Regulation Authority (Image: SRA) & Simpson Thacher & Bartlett offices in Washington, D.C. Photo: Diego M. Radzinschi/ALM.ANALYSIS
The London office of another prestigious New York-headquartered law firm has expressed concern over the news this week that Simpson Thacher will face a U.K. tribunal for alleged AML shortcomings.
August 22, 2024 at 05:58 AM
5 minute read
By Jack Womack |
August 22, 2024 at 05:58 AM
Earlier this week, Simpson Thacher & Bartlett became the latest major law firm to find itself on the sharp end of the Solicitors Regulation Authority’s push to ensure compliance with anti-money laundering rules.
Dentons and Clyde & Co have previously come under the gaze of the SRA’s newfound hawkishness on AML frailties in law firms. But it is the news that the regulator has taken action against one of America’s most prestigious firms that has sent ripples across the wider industry.
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