Clyde & Co has been fined £500,000 by the Solicitors Disciplinary Tribunal for compliance failures.

The SDT handed out the fine after Clyde & Co had faced a tribunal over its handling of a number of matters on behalf of a client, and companies used by the client, that amounted to what the Solicitors Regulation Authority called a “failure to comply with anti-money laundering procedures and breach of money laundering regulations”.