Fiona Smith was co-founder, one of two equity partners, and compliance officer for finance and administration at Hartlepool based MSP Legal Services LLP.

Smith was struck off the Solicitors Roll and ordered to pay £41,000 after admitting dishonesty linked to a £638,485 client account shortfall, of which £450,943 was ‘improperly transferred’, and ‘dissipated’.

The SRA found that MSP should have been holding £668,700 of client money, but the client account contained just £30,214, leaving a shortfall of £638,485.

Two allegations were made against Smith by the Solicitors Regulation Authority (SRA).