Ian
Insley
Solicitor
123491
Decision - Fined
Outcome: Fine
Outcome date: 29 October 2024
Published date: 3 February 2026
Firm details
Firm or organisation at date of publication and at time of matters giving rise to outcome
Name: Scott-Moncrieff and Associates Limited
Address(es): Temple Chambers, 3-7 Temple Avenue London, EC4Y 0HP
Firm ID: 596379
Outcome details
This outcome was reached by SRA decision.
Decision details
Who does this disciplinary decision relate to?
Mr Insley is a solicitor who works as a consultant for Scott-Moncrieff and Associates Limited (the firm), a licensed body with offices at Temple Chambers, Suite 244, 3-7 Temple Avenue, London.
Short summary of decision
Mr Insley was fined for causing payments to be made into and out of the firm’s client account in one client matter which were other than in respect of the delivery of legal services, resulting in the firm’s client account being used to provide banking facilities.
Facts of the misconduct
In July 2023, the SRA began a forensic investigation at the firm. This identified that Mr Insley acted for a client located in the Russian Federation in relation to its purchase of an asset for $22,500,000 from a company located in Canada. The firm agreed to provide escrow services and general advice to the client. Neither the firm or Mr Insely acted in the sale and purchase agreement for the asset and there was no need for the firm to receive or make payments relating to that underlying transaction.
However, between 17 March and 10 August 2021, the firm received three sums into its client bank account totalling $23,287,470.07 from Mr Insley’s client. Between 15 April and 28 May 2021, Mr Insley caused the firm to make three payments totalling $22,499,990.13 to the company supplying the asset to his client. On the client’s instructions Mr Insley caused the firm to pay $525,000 to his client’s agent located in Germany and $262,438.46 to another company located in Estonia.
It was found that:
Between 17 October 2020 and 22 October 2021, Mr Insley caused payments into and out of the firm’s client account, any or all of which were other than in respect of the delivery of regulated services, resulting in the client account being used to provide banking facilities.
In doing so he breached:
Rule 3.3 of the SRA Accounts Rules 2019 and
Principle 2 of the SRA Principles 2019
Decision on sanction
Mr Insley was directed to pay a financial penalty of £9,941 and ordered to pay costs of £1,350.
This was because Mr Insley’s conduct was serious by reference to the following factors in the SRA Enforcement Strategy:
- In breach of the SRA Accounts Rules 2019, he caused the firm to process a substantial sum through its client account when there was no proper connection between the legal services he or the firm provided and the payments the firm received and made.
- His conduct also gave rise to the serious risk that the firm’s client account may have been used for money laundering, terrorist financing or other illegal or improper purposes.
- In allowing the firm’s client account to be improperly used as a banking facility Mr Insley acted with a wilful or reckless disregard of harm and his regulatory obligations.
- Mr Insley’s conduct was serious and had the potential to cause harm to the public interest and to public confidence in the legal profession.
In view of the above, Mr Insley’s conduct was placed in conduct band C (which has a financial penalty bracket of between 16 and 49 per cent of an individual’s gross annual income) His conduct was placed in the mid-range of this bracket at C3 (27 per cent of gross annual income).
SRA Standards and Regulations breached
SRA Principles 2019
Principle 2: You must act in a way that upholds public trust and and confidence in the solicitors’ profession and in legal services provided by authorised persons.
SRA Accounts Rules 2019
Rule 3.3 You must not use a client account to provide banking facilities to clients or third parties. Payments into, and transfers or withdrawals from a client account must be in respect of the delivery by you of regulated services.