Nirosha Jayawardena

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

Nirosha Jayawardena, sole equity partner, COLP, COFA and MLRO at Tremont Midwest Solicitors, admitted six allegations relating to inadequate client due diligence and AML checks on two property sales that turned out to be frauds, paying proceeds to unconnected third parties, failing to honour an undertaking to Judge & Priestly LLP, and multiple Accounts Rules failures (missing accountant's reports, no cease-to-hold report, no five-weekly reconciliations). The matter was resolved on the papers by Agreed Outcome. No dishonesty was alleged or found. The Tribunal approved a 1-month suspension commencing 3 May 2023, indefinite practice restrictions, and mandatory AML and Accounts Rules training, with no order as to costs due to limited means. An application to defer the suspension was refused.

Duties found breached:

• Accounting records, reconciliation and reports
• Advise on alternatives, settlement and outcome
• AML and crime-prevention compliance
• No improper solicitation or touting

Aggravating factors:

• Respondent knew or ought reasonably to have known the conduct breached obligations to protect the public and the reputation of the profession
• Misconduct took place over a period of time
• High culpability - conduct was not spontaneous and she had direct control
• Experienced solicitor with experience of managing a law firm
• Fraudulent property transactions were allowed to proceed causing financial loss

Mitigating factors:

• Misconduct in property transactions impacted by third-party deception (firm was a victim of fraud)
• Respondent made efforts to recover proceeds of sale and engaged with Land Registry
• Recovered Kilburn Road funds in full
• Demonstrated insight and made full admissions
• Personal/health circumstances and limited financial means
• No dishonest motive; did not deliberately mislead the regulator
• Difficulties caused by a software change and COVID lockdown