The regulatory body has launched a formal investigation looking into the abrupt departure of Veneik from the City firm in January, with BLP’s staffing procedures and conduct during the incident set to come under the microscope.
Veneik resigned from BLP on 15 January. The firm subsequently alleged that he had made errors on a number of transactions, including failing to pay stamp duties and failing to register transfers of property.
BLP announced at the time that it planned to introduce more stringent internal procedures to avoid any repetition of the alleged mistakes.
The proceedings, which are likely to take a number of months, could lead to a tribunal hearing.
The SRA confirmed in a statement: “We are looking into the matter. A formal investigation is underway.”
Veneik, whose former clients are understood to include Morgan Stanley Real Estate Fund and Great Portland Estates, will not comment on the investigations as part of an agreement with the firm. It is unclear whether he will continue to practise law.
BLP declined to comment.
