Tom Bedford & Chris Dyke examine the regulatory consequences for firms arising from the war in Ukraine
- Firms would be well-advised to stay abreast of SRA sanctions guidance and ensure they are complying with their obligations, particularly where there are money laundering or sanctions risks in continuing to act for an individual.
The Russian invasion of Ukraine has prompted some in the profession to consider whether it is right to accept instructions which may be contrary to their own values, or those of society. What about those firms who say that the rule of law entitles everyone to legal representation? Can they continue to do so without fear of consequences? On top of that, how have firms responded to the new sanctions rules? Can firms continue to act for Russian nationals?
Certain parts of the profession have a reputation for acting for Russian oligarchs, with access to sufficient financial resources to enable them to use English jurisdiction to further their interests both here and abroad.
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