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Violation Tracker UK Individual Case

Company: Wills Bingley Limited
Company City/Town: St. Austell
Company Nation/Region: England
Penalty: £1,050
Year: 2020
Date: 14 October, 2020
Offence Group: financial offences
Offence Type: anti-money-laundering deficiencies
Violation Description: Wills Bingley Limited of St. Austell, United Kingdom has agreed to pay a practice assurance penalty of £1,050, 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 it failed to comply with written assurances provided in the closing record to A) document risk assessments and ongoing review of client due diligence for existing clients, as required by the Money Laundering Regulations 2007; and B) carry out annual reviews and obtaining confirmation of the trust status when opening a Clients' money bank account, as required by the Clients' Money Regulations
Action Type: agency action
Settlement Type: Practice Assurance Committee decision
Agency: Institute of Chartered Accountants in England and Wales
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