SDT: Karena Elizabeth Harrison
- Application 10843-2011
- Admitted 2001
- Hearing 21 February 2012
- Reasons 27 March 2012
The SDT ordered that the respondent should pay a fine of £5,000.
The respondent had failed to file with the Solicitors Regulation Authority within the required period accountant’s reports for the years ending 30 November 2008 and 30 November 2009, contrary to section 34 of the Solicitors Act 1974 and rule 35 of the Solicitors Accounts Rules 1998; and in breach of rules 4.1, 4.3 and 10.1 of the Solicitors Indemnity Insurance Rules 2009 and rule 5.01 of the Solicitors Code of Conduct 2007 she had failed to take out indemnity insurance for the 2009/2010 indemnity year, she had failed to take out run-off cover for the period of six years from the closure of her firm on 31 October 2009, and she had failed to apply to the assigned risks pool for indemnity cover and/or run-off cover.
The SDT said that it was a sad case where the respondent had clearly got into financial difficulties and had found herself unable to deal with her financial and regulatory obligations as a result. The SDT noted that it did not appear that any clients had suffered financially and took into account the respondent’s previous good record. The SDT decided the appropriate sanction in this case was to fine the respondent £5,000.
The respondent was ordered to pay costs of £5,000.