The Financial Conduct Authority (FCA) has banned Nurul Miah, the former owner of London-based law firm Kingly Solicitors, from working in financial services after finding that £28m of client money was misused.
Miah is prohibited from working in any regulated financial role at firms operating under the Financial Services and Markets Act.
FCA action follows SRA fine
The FCA acted after the Solicitors Regulation Authority (SRA) imposed its largest-ever fine on Miah, of almost £4m, in May 2025. The SRA shut Kingly Solicitors down in 2020 following serious allegations involving the misuse of client funds.
The SRA reported its findings about the misuse of client funds to the relevant law enforcement authorities. It found that more than £10m of client money was missing and had been used for inappropriate purposes, including loan repayments and the purchase of assets not linked to the business.
FCA withdraws previous approval
The FCA approved Miah in 2016 to work in senior management roles at the unconnected firm Oracle Consultants Ltd. It said it had withdrawn that approval because of his misuse of client funds at Kingly Solicitors.
Therese Chambers, the FCA’s 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.”
Chambers said the ban was imposed to protect consumers and help maintain confidence in the financial system.
City AM reported that it could not immediately reach Miah for comment.
Source: City AM
