Keith Smart

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

Keith Smart, a sole practitioner and COLP/COFA at Keith Smart & Co, admitted 11 allegations including 8 counts of dishonesty. He failed to keep proper accounting records, made round sum transfers of at least £128,000, allowed debit balances on client account, systematically overcharged six probate estates by a minimum of £168,772.83 over 19 months, and repeatedly attempted to mislead the SRA's Forensic Investigation Officer about sending bills and discussing costs. The firm was intervened into in June 2018. The matter was resolved by Agreed Outcome on the papers. The Tribunal found the misconduct very serious with admitted dishonesty and ordered the Respondent be struck off the Roll and pay costs of £20,151.64.

Duties found breached:

• Proper basis for allegations
• Advise objectively, not a mere conduit
• No improper use of client money
• Accounting records, reconciliation and reports
• Account for interest on client money

Aggravating factors:

• Deliberate and systematic overcharging over a 19-month period
• Conduct benefitted the Respondent to the detriment of executors and beneficiaries
• Deliberately misled the regulator on three separate occasions, in interview and in writing
• Highly experienced solicitor (nearly 40 years) who was sole practitioner, COLP and COFA
• Concealed excessive costs by not sending bills to executors
• Four estates had not been repaid the excess costs

Mitigating factors:

• Loss of experienced cashier and catastrophic failure of firm's accounts systems
• Spent £10,000 instructing accounting software company to bring books up to date
• Replaced shortage in estates of CM and MJP (~£77,000) by 21 May 2018
• Admitted breaches and cooperated via Agreed Outcome
• Expressed sincere apologies and remorse
• Loss of reputation and impact on family (two children employed at firm)