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Simpson Thacher & Bartlett, a prominent US law firm, has been referred to a tribunal in the UK over allegations of inadequate anti-money laundering (AML) policies at its London office. The Solicitors Regulation Authority stated that the firm allegedly failed to implement a firm-wide risk assessment between June 2017 and March 2020. Additionally, the firm reportedly lacked a fully compliant risk assessment from March 2020 to February 2023. These allegations raise concerns about the firm's compliance with regulations aimed at preventing money laundering and terrorist financing.
London office of top US firm to face tribunal over alleged AML failures https://t.co/likDL5hVYp
Simpson Thacher was referred to a UK tribunal over allegations it failed to have proper anti-money laundering policies at its London office. The firm also lacked a fully-compliant firm-wide risk assessment from March 2020 to February 2023, a regulator said https://t.co/hNCftvcsfb https://t.co/Ty00WBibkf
U.S. law firm Simpson Thacher & Bartlett has been referred to a tribunal over allegations it failed to have proper anti-money laundering policies in place at its London office, a legal regulator said @samiotobin https://t.co/hNCftvcsfb https://t.co/O9d9zKXIAi
