Simon James Price

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

The SRA prosecuted solicitor Simon James Price for allegedly failing to conduct adequate source of wealth/funds enquiries under the Money Laundering Regulations 2007 in relation to Client A. After Mr Price filed a detailed Answer, the SRA applied to withdraw the proceedings, citing diminished public interest and diminished prospect of obtaining any sanction. The Tribunal granted the withdrawal, finding it was no longer in the public interest and there was no realistic prospect of an order against Mr Price. On costs, the Tribunal departed from the usual 'no order as to costs' starting point, finding a 'good reason' to award costs against the SRA: the SRA's specialist AML Investigation Officer had concluded in a Statement Following Representations (5 May 2023) that there was no proper basis to refer Mr Price, yet the ADM disregarded this and the SRA failed to disclose the document until shortly before costs submissions, while relying on the IO's original recommendation. The Tribunal found the proceedings had been improperly brought. No findings of dishonesty or misconduct were made against Mr Price. Costs were summarily assessed at £184,000 (reduced from £416,787 claimed, with Stage One disallowed and quantum reduced for excessive resourcing).