Archive for the ‘Professional Bodies’ Category

CCAB issues a reminder for practitioners to stay vigilant over money laundering

July 07, 2015  |   General News & Cases,Professional Bodies   |     |   0 Comment

Staying safe within the money laundering regulations With the latest budget heralding a clampdown on tax evasion, accountants in practice would do well to consider the first-aider’s rule when acting for clients. Ask any first aider about helping others and the first rule is: don’t put yourself ...

SmartSearch Gains ICAEW Affinity Statue

ICAEW Member Rewards Partnership SmartSearch are the preferred supplier of KYC and AML solutions for the Institute of Chartered Accounts England & Wales, we work with many of the largest Accountancy Firms, providing a total solution for Accounting Firms for Know Your Customer and Customer Due Diligence. Business & Individual AML Verifications ...

OFT fines Leicester-based estate agent almost twelve thousand pounds

The OFT, in its first formal Regulatory penalty, has fined Leicester-based IPS Estate Agents Limited £11,844 for failing to comply with anti-money laundering regulations. IPS failed to comply with a number of requirements under the Money Laundering Regulations 2007, including those relating to: verifying the identity of customers keeping appropriate records ensuring that relevant ...

Coutts fined for failings in money laundering controls

March 27, 2012  |   General News & Cases,Professional Bodies   |     |   0 Comment

Private bank Coutts has been fined £8.75m by the Financial Services Authority (FSA) for not taking adequate measures to prevent money laundering. The FSA said the failings "resulted in an unacceptable risk of Coutts handling the proceeds of crime". The findings related to high-risk people, especially those whose political positions meant ...

ICAEW Disciplinary Consent order made on 3 October 2011

November 08, 2011  |   General News & Cases,Professional Bodies   |     |   0 Comment

The followng consent orderwas made by the ICAEW investigation committee With the agreement of Richard Braysher of 2 High Road, Eastcote, Pinner, Middlesex, HA5 2EW, the Investigation Committee made an order that the member be severely reprimanded, fined £5,000 and pay costs of £1,280 with respect to a complaint that: 1 Between ...

Former ATT President Charged With Tax Fraud

[caption id="attachment_501" align="alignleft" width="370" caption="Former ATT President"][/caption] Andrew Meeson, the former President of the Association of Taxation Technicians and three of his business associates who administered a pension scheme, have been charged with stealing £5million through a tax fraud ...

12.05.11 ICAEW Fine Accountant £5,000 for breach

May 12, 2011  |   General News & Cases,Professional Bodies   |     |   0 Comment

At a Disciplininary Council meeting a Mr P R Honeywell FCA was found to have failed to comply with Money Laundering Regulations2007 in that, following a practice assurance visit, he failed to: (i) document a client due diligence review; and (ii) identify clients for whom his firm, Honeywell (Monmouth) Limited, provides payroll ...

30.11.10 Accountant fined £1,080 for a failure to verify a client

November 30, 2010  |   General News & Cases,Professional Bodies   |     |   0 Comment

The ICAEW has made the following regulatory decision in a case for a failure to verify a client in accordance with the Money Laundering Regulations. Consent Orders made on 1 June 2010 With the agreement of Andrew Nigel Hamilton of 38 Dean Park Mews, Edinburgh EH4 1ED, ...

30.11.10 Accountant fined £5,000 for a failure to report

November 30, 2010  |   General News & Cases,Professional Bodies   |     |   0 Comment

The ICAEW made the following regulatory decision in the following case for a failure to make a suspicious activity report in a timely basis Consent Orders made on 28 July 2010 With the agreement of Michael Martin Shenker of 5Wellesley Court, Apsley Way, London NW2 7HF, the Investigation Committee made an order that ...

10.08.10 External consultants cannot act as a Nominated Officer under Money Laundering Regulations

As an external consultant I am usually in the situation where systems we devise for compliance starts with a simple policy statement, which firstly details who is and how to communicate with, the nominated officer, who will be a senior member of the firm, a director, partner or owner manager.  ...