Disciplinary outcome: Ausaf Syed
Order by consent
In the matter of
Mr Ausaf Syed MAAT
Business name
A Syed & Co Limited
Membership number
6278026
Date
13 October 2026
Misconduct
- For an unknown period until on or around 14 January 2026 he failed to record adequate customer due diligence (know your client) documentation regarding client identification in respect of one or more clients, in breach of Regulation 28 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
- For an unknown period until on or around 14 January 2026 he failed to demonstrate and/or record adequate money laundering risk assessments for one or more clients, in breach of Regulation 28 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
- For an unknown period until or around 14 January 2026 he failed to carry out and/or document ongoing monitoring in respect of one or more existing clients in breach of Regulation 28(11) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
- Between on or around 1 December 2021 to on or around 13 January 2026, he failed to have appropriate professional indemnity insurance (PII) cover, breaching AAT’s Professional Indemnity Insurance (PII) Policy.
- For an unknown period until on or around 14 January 2026 he failed to provide an adequate engagement letter to one or more clients, in breach of AAT’s Client Care Policy.
Finding
By reason of the conduct set out in the Allegations above, Ausaf Syed is guilty of misconduct pursuant to Article 21 of AAT’s Articles of Association.
Order
- Severely reprimanded for a period of three years.
- Fined £3,500.00.
- Removed of fellow membership for a period of three years.
Consent
The decision of the Investigations Team shall stand as an Order of the Association pursuant to Regulations 5.2 and 5.3 of the Disciplinary Regulations.
