KENNEDYS LAW LLP

Decision - Fined

Outcome: Fine

Outcome date: 8 January 2026

Published date: 6 March 2026

Firm details

No detail provided:

Outcome details

This outcome was reached by SRA decision.

Decision details

Who does this disciplinary decision relate to?

Kennedys Law LLP is a recognised body whose head office is at 20 Fenchurch Street, London, EC3M 3BY. The firm was previously a licensed body.

Short summary of decision

Kennedys Law LLP (the firm) has been fined for failing to prevent its staff from allowing its client account to be used as a banking facility.

Facts of the misconduct

The firm acted in a commercial property transaction between November 2016 and February 2018. It was found that, while acting in that transaction, by failing to prevent its staff from making payments from the client account that did not relate to an underlying legal transaction and so allowing its client account to be used as a banking facility, the firm breached Principle 8 of the SRA Principles 2011, failed to achieve outcome 7.4 of the SRA Code of Conduct 2011 and breached rules 6.1 and 14.5 of the SRA Accounts Rules 2011.

Decision on sanction

Kennedys Law LLP was directed to pay a financial penalty of £18,000 and ordered to pay costs of £1,350.

This was because the firm’s conduct was serious by reference to the following factors in the SRA Enforcement Strategy:

1. The misconduct involved the potential misuse of client money.
2. There was a risk of substantial harm and impact arising from the firm’s failures, including the loss of money entrusted to the firm by third parties.

Although the firm was determined to be of greater means, it was not considered proportionate to impose a financial penalty at a higher rate. This was because the firm’s conduct was not deliberate or reckless in respect of its regulatory obligations. The firm accepted that it had allowed its client account to be used as a banking facility and had expressed its remorse and regret.

SRA Principles breached

SRA Principles 2011

Principle 8 You must run your business or carry out your role in the business effectively and in accordance with proper governance and sound financial and risk management principles.

SRA Code of Conduct 2011

Outcome 7.4 You maintain systems and controls for monitoring the financial stability of your firm and risks to money and assets entrusted to you by clients and others, and you take steps to address issues identified.

SRA Accounts Rules 2011

Rule 6.1 All the principals in a firm must ensure compliance with the rules by the principals themselves and by everyone employed in the firm. This duty also extends to the directors of a recognised body or licensed body which is a company, or to the members of a recognised body or licensed body which is an LLP. It also extends to the COFA of a firm (whether a manager or non-manager).

Rule 14.5 You must not provide banking facilities through a client account. Payments into, and transfers or withdrawals from, a client account must be in respect of instructions relating to an underlying transaction (and the funds arising therefrom) or to a service forming part of your normal regulated activities.