FCA bans former law firm owner for misusing £28m of client money
The financial watchdog has banned the former owner of London-based law firm Kingly Solicitors from working in financial services after finding he allowed £28m of client money to be misused. The Financial Conduct Authority (FCA) said on Tuesday it has barred Nurul Miah, also known as Neil Mia and Neil Miah, the former owner of [...]
The Financial Conduct Authority (FCA) has prohibited former Kingly Solicitors owner Nurul Miah from working in financial services due to his role in misusing £28 million of client funds between April 2019 and July 2020. Miah, also known as Neil Mia and Neil Miah, allowed client money to be taken from accounts without permission, a breach of regulations.
The Solicitors Regulation Authority (SRA) imposed a record-breaking £3.9 million fine on Miah in May 2025, following the closure of Kingly Solicitors in 2020 due to allegations of misappropriating client funds. The SRA found that £10 million of client money was used for "inappropriate purposes," including loan repayments and asset purchases unrelated to the business.
FCA executive director Therese Chambers stated that Miah has no place in financial services and banned him to protect consumers and maintain confidence in the financial system. Additionally, the FCA withdrew Miah's approval to work as a senior manager at Oracle Consultants Ltd, a firm he was previously approved to work for in 2016.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
