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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
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.
