Courtesy photo Armstrong Teasdale Faced Regulatory Inquiry Before Shuttering in London
The firm's London office—which opened in 2021—brought in $14 million in revenue in 2022 but recorded less than $250,000 in profits.
September 20, 2024 at 03:15 PM
5 minute read
Law Firm Office Launches and Closures
What You Need to Know
- Prior to closing its London office, Armstrong Teasdale's compliance officer was fined just under $30,000 for failing to implement anti-money laundering measures at the firm.
- Armstrong Teasdale also recently brought in insolvency officials to help wrap up operations in the U.K.
- Flagging profitability likely played a role in the office closure, which comes three years after Armstrong Teasdale entered the U.K. with an acquisition of a local firm.
Just weeks before announcing the closure of its London office, Armstrong Teasdale's London-based compliance officer was fined by the Solicitors Regulation Authority for failing to implement anti-money laundering procedures at the firm.
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