The firm agreed to pay a financial penalty of £300,000 as well as an addition £62,000 to cover legal costs incurred by the Solicitors Regulation Authority.

U.S. law firm Simpson Thacher & Bartlett was fined 300,000 pounds ($389,069) on Wednesday over breaches of anti-money laundering rules at its London office.

The firm was first referred to the Solicitors Disciplinary Tribunal by the U.K. industry regulator last summer over claims of ...