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Violation Tracker UK Individual Case

Company: Salway & Wright Ltd
Company City/Town: Spalding
Company Nation/Region: England
Penalty: £1,050
Year: 2020
Date: 1 September, 2020
Offence Group: financial offences
Offence Type: anti-money-laundering deficiencies
Violation Description: Salway & Wright Ltd agreed to pay a practice assurance penalty of £1,050, which was decided by the Practice Assurance Committee. This was in view of its admitted breach of Breach of PA Regulation 4 (2008 Regulations); in that the firm failed to comply with written assurances by failing to: issue clients with details of the firm's fees and complaints procedures, failing to document risk assessments for all clients, carry out an anti-money laundering (AML) compliance review and document AML procedures, and failing to complete annual returns accurately.
Action Type: agency action
Settlement Type: Practice Assurance Committee decision
Agency: Institute of Chartered Accountants in England and Wales
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