Michael Wright

Findings — machine-extracted (anthropic-batch:claude-opus-4-8); verify against the decision

Duties found breached:

• Proper basis for allegations
• No conflict between current clients
• No improper use of client money
• Accounting records, reconciliation and reports
• Not misrepresent regulated status

Aggravating factors:

• Held himself out as a financial services expert and was in charge of the department
• Substantial and widespread breaches over a prolonged period (1987 to May 1994)
• Breaches previously drawn to his attention and compliance advice given at 1992 visits

Mitigating factors:

• Respondent not represented and admitted breach of Rule 12 from the outset, having reported it himself to the Solicitors Complaints Bureau
• Not alleged or found to be complicit in Mr Leach's dishonest misappropriation of client funds
• Respondent suffered the greatest financial loss following Mr Leach's suicide and had been unable to carry on business