The Parties concluded a Statement of Agreed Facts, in which the Respondent admitted all allegations against him. The Tribunal found that:

In relation to Allegation 1.1, the Respondent had breached Rule 14.5 of the 2011 Accounts Rules 2011 and Principles 6, 7 and 8 of the SRA Principles 2011;

In relation to Allegation 1.2, the Respondent had breached Rule 32A.1(a) of the 2011 Account Rules, and Principle 8 of the 2011 Principles, failed achieve Outcome 7.4 of the SRA Code of Conduct 2011 as well as breached Rule 12.1(a) of the 2019 Account Rules and Paragraph 4.2 of the 2019 Code of Conduct;

In relation Allegation 1.3, the Respondent had breached Paragraphs 7.3, 7.4 and 7.10 of the Code of Conduct 2019 and Principle 5 of the 2019 Principles;

In relation to Allegation 1.4, the Respondent had breached Rule 8.5(e)(i) of the SRA Authorization Rules 2011, Principle 7 of the SRA Principles 2011, Paragraphs 7.2 of the 2019 Code of Conduct and paragraph 9.2 of the SRA Code of Conduct for Firms; and

The Respondent’s admissions in respect of these breaches had been properly made.

However, the Tribunal was not satisfied on the balance of probabilities that the Respondent had breached Principle 6 of the 2011 Principles or Principle 2 of the 2019 Principles in relation to Allegation 1.1, or Rule 32A.1(b) of the 2011 Accounts Rules or Rule 12.1(b) of the 2019 Accounts Rules in relation to Allegation 1.2.

The Tribunal ordered the Respondent to pay a fine of £8,500.00 as well as the costs of and incidental to this application and enquiry fixed in the sum of £40,000.00, but ordered that such costs order was not to be enforced without leave of the Tribunal.