Solicitors have been issued with a new warning in relation to dubiousinvestment schemes after the regulator uncovered poor standards of practice.
According to a Solicitors Regulation Authority (SRA) report, solicitors failed to carry out proper due diligence in more than half of the cases featured in the report.
The report followed a review of the types of schemes, what sort of firms got involved and how that happened.
It looked at a sample of 40 cases where a solicitor’s involvement in dubious investment schemes had reported to the SRA up to 2019.
It highlighted dubious investment risks which left people at risk of falling victim to such schemes.
It said hundreds of mil...
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