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Violation Tracker UK Individual Case

Company: Abacus 114 Limited
Company City/Town: Grantham
Company Nation/Region: England
Penalty: £2,082
Year: 2020
Date: 14 September, 2020
Offence Group: financial offences
Offence Type: anti-money-laundering deficiencies
Violation Description: The owner of Abacus 114 of Grantham, United Kingdom has agreed to pay a practice assurance penalty of £2,082 which was decided by the Practice Assurance Committee. This was in view of their admitted breach of Regulation 12 of the Regulations governing the use of the description Chartered Accountants & ICAEW general affiliates; in that his firm did not obtain general affiliate status for a principal of the firm and used the description Chartered Accountants between 24 March 2016 and 23 February 2020 when not eligible to do so; and his failure to comply with a written assurance given to document risk assessments and carry out ongoing reviews in accordance with the Money Laundering Regulations 2007
Action Type: agency action
Settlement Type: Practice Assurance Committee decision
Agency: Institute of Chartered Accountants in England and Wales
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