A regretful solicitor has been punished following an investigation by the regulator.

Steven John Marsden, (SRA id.117328)  a former employee of Cumbria-based commercial property law firm, Livingstons Solicitors limited, has accepted a rebuke and has agreed to fork out a total of £3,950 to the SRA.

Mr Marsden, who was admitted to the roll of solicitors in 1978, acted for the will trusts at Livingstons. However, it was found that he had failed to file the tax returns for the will trusts on a number of occasions, on time or at all.

This failure stacked up to a total of £7,000 being incurred  Mr Marsden then paid £6,100 from the Livingstons’ client account, even though he knew it should have been paid from the office account.

Mr Marsden admitted fault to these findings and was noted by the SRA as expressing a “deep regret at his actions”.

Following his admissions, the SRA stated he was to pay a £2,000 penalty, as well as £1,950 for investigation costs to the regulator, within 28 days of the agreement. Mr Marsden was also rebuked.

The SRA noted that Mr Marsden cooperated fully with the watchdog’s investigation and had an illness that was exacerbated by work related stress.

The SRA stated that if Mr Marsden acted inconsistently with this Agreement, it “…may result in a disciplinary sanction or a referral to the Solicitors Disciplinary Tribunal”.