The FCA has banned a former law firm manager from working in financial services after he was found to have dishonestly caused or allowed more than £28m of client money to be taken without permission.

The regulator banned Nurul Miah, also known as Neil Mia and Neil Miah, after concluding that his actions demonstrated he lacked the honesty and integrity required to work in financial services.

Miah was previously a non-legal manager at Kingly Solicitors Limited.

He had also been approved by the FCA in 2016 to work in senior management roles at an unconnected firm, Oracle Consultants Ltd.

£10M OF CLIENT MONEY MISSING

The FCA’s action followed findings by the Solicitors Regulation Authority that Miah dishonestly caused or allowed more than £28m to be taken from Kingly Solicitors’ client accounts without permission between April 2019 and July 2020.

The SRA also found that more than £10m of client money was missing and had been used by Miah for his own benefit.

The FCA subsequently concluded that Miah was not fit to work in the financial services industry.

‘NO PLACE IN FINANCIAL SERVICES’

Therese Chambers, executive director of enforcement and market oversight at the FCA, 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.”