A former law firm boss who was fined nearly £4m by the Solicitors Regulation Authority last year has now been banned from working in financial services.
The Financial Conduct Authority announced today that Nurul Miah, also known as Neil Mia and Neil Miah, had been excluded from the industry to protect consumers and maintain confidence in the financial system.
The FCA said it acted after the SRA found that Miah, who was a non-legal manager at Kingly Solicitors Limited, dishonestly caused or allowed more than £28m of client money to be taken from client accounts without permission between April 2019 and July 2020. The FCA said the SRA also found that more than £10m of client money was missing and had been used by Miah for his own benefit.
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Miah was approved by the FCA in 2016 to work in senior management roles at an unconnected firm. The financial watchdog concluded that his actions ‘showed he lacked the honesty and integrity needed to work in financial services’.
Therese Chambers, executive director of enforcement and market oversight, said: ‘Mr Miah dishonestly used client money for his own benefit. He has no place in financial services. We have banned him to protect consumers and help maintain confidence in the financial system.’
