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 the member be
severely reprimanded, fined £5,000 and pay costs of £2,075 with respect to a
complaint that:
Between 7 June 2005 and 16 February 2006 Mr M M Shenker FCA failed to comply with
statement 1.304 of the Members Handbook in that he failed to make a suspicious activity
report on a timely basis to the National Crime Intelligence Service when he had a
suspicion or reasonable grounds to suspect that Mr X’s activities in relation to the
business of Y Limited were unlawful. D6496