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Violation Tracker UK Individual Case

Company: Styles & Co JFC Limited
Company City/Town: Warrington
Company Nation/Region: England
Penalty: £700
Year: 2020
Date: 15 June, 2020
Offence Group: financial offences
Offence Type: anti-money-laundering deficiencies
Violation Description: Styles & Co JFC Limited of Warrington, United Kingdom has agreed to pay a practice assurance penalty of £700,which was decided by the Practice Assurance Committee. This was in view of the firm's admitted breach of Breach of Practice Assurance Regulation 4 (2008 Regulations); in that the firm failed to comply with a written assurance given in response to section 1 and 2 of the 2017 closing record, as it had not recorded an initial risk assessment or ongoing risk assessment on its clients, as required by the Money Laundering Regulations 2017
Action Type: agency action
Settlement Type: Practice Assurance Committee decision
Agency: Institute of Chartered Accountants in England and Wales
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