Rory Peter Heddle Fordyce
Solicitor
082655

Decision - Prosecution

Outcome: Referral to Solicitors Disciplinary Tribunal

Outcome date: 18 November 2023

Published date: 6 March 2024

Firm details

Firm or organisation at date of publication and at time of matters giving rise to outcome

Name: Taylor Fordyce Limited

Address(es): 1-2 City Business Centre, Hyde Street, Winchester SO23 7TA

Firm ID: 463294

Outcome details

This outcome was reached by SRA decision.

Reasons/basis

This notification relates to a Decision to prosecute before the Solicitors Disciplinary Tribunal.  This is an independent Tribunal which will reach its own decision after considering all the evidence, including any evidence put forward by the Solicitor.  The Tribunal has certified that there is a case to answer in respect of allegations which are or include that Mr Fordyce allowed his firm’s client account to be used as a banking facility, handling client money when there were no underlying legal transactions; and arranged personal loans from clients to the firm’s office account and made a personal loan to a client of the firm. 

Further, that he failed to take adequate measures to establish the source of wealth and source of funds involved in transactions regarding a client who was a Politically Exposed Person and failed to conduct enhanced ongoing monitoring of the business relationship in breach of the Money Laundering Regulations 2007.   

The allegations are subject to a Hearing before the Solicitors Disciplinary Tribunal and are as yet unproven.