Disciplinary outcome: Daniel Ryder
Order by consent
In the matter of
Mr Daniel Ryder MAAT
2 May 2023
Daniel Ryder's professional or personal conduct, was found to be in breach of the Code of Professional Ethics and to have posed a risk to the public or was likely to undermine public confidence in the Association or its members; namely:
1. Between on or around 20 November 2019 and on or around 10 December 2021, he failed to comply with his obligations under the Money Laundering Regulations in force while providing accountancy services to the public, specifically:
- he did not record adequate client due diligence measures in respect of one or more clients
- he did not carry out and/or record an adequate review of his firm’s anti-money laundering policies, controls, and procedures.
- Between on or around 20 November 2019 and on or around 10 December 2021, he failed to comply with your obligations under AAT’s Clients’ Money policy, specifically:
His firm held clients' money in a bank account which was not a client bank account
- his firm withdrew clients’ money for or towards payments of fees payable by a client without agreement by the client or without 30 days having elapsed from the issue of an undisputed fee statement
- c. you did not conduct a review at least annually to ensure your firm’s compliance with the policy.
Grounds for disciplinary action existed and the matter was suitable for exercise of the Investigations team's powers under the Disciplinary Regulations.
Daniel Ryder is hereby:
- Fined £2,000 to be paid within three months of the conclusion of this investigation.
- Reprimanded to remain live on record for three years.
- Warned about future conduct and a follow up review next year to address the allegations identified.
Daniel Ryder consented to the decision of the Investigations Team in accordance with Regulation 6 of the Disciplinary Regulations.