Mischcon de Reya is one of the more prestigious law firms in the UK, gaining prominence for its 1995 representation of Princess Diana in her divorce from Prince Charles. However more recently it has been at the centre of a complex investigation by anti-money laundering investigators.
The Guardian has reported that solicitors from the Solicitors Regulation Authority (SRA) have been running a long-running investigation following receipt of separate reports in 2017-18 relating to allegations over the so-called ‘silver circle’ law firm.
One of the reports regarding the SRA investigation is understood to have related to an HM Revenue and Customs investigation into transfers of Premier League football players, while the second detailed allegations about the firm’s work for clients connected to an elaborate €100m (£89m) fraud, according to The Guardian.
Mishcon de Reya, was named Law Firm of the Year at The Legal Business Awards 2017 and has grown rapidly over the past decade with revenues of £48m in 2009-10 jumping to £188m in 2019-20.
Mishcon de Reya also received publicity when it was associated with the murdered Maltese journalist Daphne Caruana Galizia, according to another report in The Guardian.
The ongoing investigation into Mishcon de Reya is understood not to have reached any conclusions or made any adverse findings against the firm or any of its partners or solicitors, The Guardian reports indicate.
If the SRA makes an adverse finding against a firm, its sanctions can range from letters of advice to a referral to the solicitors disciplinary tribunal (SDT), which can strike off solicitors and issue suspensions and fines.
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