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With respect to Paul Bennett, the fines in this matter are usually higher and are normally based upon the firm's profits. See Fuglers, Connick and others for fines in excess of £40,000. Also, Saunders & Co, Atkins-Wood and Merrels for strike off and suspensions in similar circumstances. The sanctions are proportionately much higher then the present fine for Clyde & Co.

Further, the impact of an SDT sanction on a smaller firm is dispraportionate in any event and will often lead to firm failure due to adverse publicity and indemnity insurers refusing to offer renewal terms. Such issues rarely impact upon larger firms.

Overall, the level of fine and the lack of conditions is an outrage and an incredibly soft outcome in contrast to similar cases involving smaller firms.

See the following blog post for an interesting recap and the SRA's approach