The Solicitors Regulation Authority (SRA) has rebuked a North-West London law firm for failing to comply with an undertaking in a timely manner during a conveyancing transaction.
Allsop Durn, located in Ruislip, faced scrutiny after it delayed 14 months to discharge a mortgage following the completion of a property transaction. The undertaking, originally given in June 2021, was not fulfilled until September 2022, when the buyers’ legal title was properly registered. This delay occurred despite the firm initially making enquiries with the relevant authority prior to the transaction’s completion.
The issue was only brought to the firm’s attention by the buyers’ solicitors in January 2022, indicating a significant oversight in their internal processes. It took a further four months for Allsop Durn to take substantive action to correct the failure, drawing attention to the firm’s procedural shortcomings.
In response, Allsop Durn acknowledged the lack of appropriate processes and procedures which could have preemptively resolved the issue. The firm accepted full responsibility and co-operated fully with the SRA investigation, admitting the allegation from the outset. Crucially, it was noted that no lasting significant harm was caused to the clients.
The risk of similar issues arising in the future has been deemed low, as Allsop Durn has reportedly taken steps to enhance its procedures regarding undertakings and client account balances.
The SRA stated that a lesser sanction would not suffice due to the seriousness of the misconduct, highlighting the necessity for public sanction to maintain confidence in legal services. Consequently, the firm has been ordered to pay costs amounting to £1,350.
This case underscores the importance of diligent process management within law firms to uphold regulatory compliance and client trust.
