Daily Compliance Brief — FCA Bans Former Law Firm Manager Over Client Money Misconduct

September 15, 2026

Signal

The UK Financial Conduct Authority (FCA) banned former law firm manager Nurul Miah from working in financial services on September 15, 2026. According to the FCA press release, the action followed findings by the Solicitors Regulation Authority that Miah dishonestly caused or allowed more than £28 million in client money to be taken from client accounts without permission.

The FCA stated that more than £10 million remained missing and had been used for Miah’s personal benefit. The regulator concluded that the conduct demonstrated a lack of the honesty and integrity required to work in financial services.

Why it matters

Firms should review controls governing client money, senior-manager accountability, and escalation of suspected misuse, particularly where financial services personnel have access to third-party funds.

Governance and conduct-risk frameworks should also ensure that concerns identified by external professional or regulatory bodies are incorporated into fitness and propriety assessments and internal escalation processes.