Lake Jackson (Lake Jackson)
The Lodge, Buckenham Lane, Norwich , NR13 4NG
Recognised body
324089

Decision - Fined

Outcome: Fine

Outcome date: 27 May 2021

Published date: 7 July 2021

Firm details

No detail provided:

Outcome details

This outcome was reached by SRA decision.

Decision details

DISCIPLINARY DECISION FOR PUBLICATION

Lake Jackson is a recognised body whose principal office is at The Lodge Buckenham Lane Norwich NR13 4NG.

On 26 June 2017, the Money Laundering, Terrorist Financing and Transfer of Funds (information on the Payer) Regulations 2017 (MLRs 2017) came into force. Law firms who carry out certain work must comply with the MLRs 2017. Those firms must carry out a risk assessment to identify and assess the business’s risks of money laundering and terrorist financing (the firm-wide risk assessment).

The SRA asked the firm to complete a declaration to confirm that they have a compliant anti-money laundering firm-wide risk assessment by 2 June 2020.

Lake Jackson failed to provide the declaration until 29 April 2021 in breach of rules 2.1(a) and 3.3(a) of the SRA Code of Conduct for Firms.

Lake Jackson was directed to pay a penalty of £800 and ordered to pay costs of £600.