David Ebert LLP

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

David Ebert LLP, a recognised body LLP, was found by the SDT (on an agreed outcome dealt with on the papers) to have failed to comply with the SRA Transparency Rules (1.1 and 2.1) and with conditions on authorisation imposed by an SRA Adjudicator between Sept 2022 and Jan 2023, and to have failed to have a designated COLP (12 July 2022–15 Dec 2023) and COFA (3 Nov 2020–30 Oct 2023). These breached Transparency Rules 1.1 and 2.1, paragraph 3.4 of the Code, Rule 8.1 of the Authorisation of Firms Rules, and Principle 2. The Tribunal found the breaches were not deliberate but caused by a period of transformation, noted no harm and no advantage gained, and that the firm co-operated and admitted the breaches early. The firm was fined £20,723.20 and ordered to pay costs of £10,000. No finding of dishonesty was made.

Duties found breached:

• Cooperate openly with regulators
• Firm governance, systems and compliance
• No conflict between current clients
• Not misrepresent regulated status

Aggravating factors:

• Took too long to rectify the problems despite repeated SRA correspondence
• Attention of the COLP and senior team diverted away from issues of core importance

Mitigating factors:

• Breaches were not deliberate, caused by a period of transformation the firm was undergoing
• No financial or other advantage gained from the breaches
• No harm caused to any person and no advantage taken of any person
• Co-operated with the SRA throughout the investigation and proceedings
• Open in all dealings with the SRA, including early admission of breaches
• Expressed regret