Disciplinary outcome: David Atyeo

1. He failed to carry out any or any adequate regular review of his Anti-Money Laundering policies, procedures, and controls in contravention of Regulation 21 of the Money Laundering Regulations 2017.
2. He failed to carry out any or any adequate client due diligence and verification in respect of one or more clients in contravention of Regulations 27 and 28 of the Money Laundering Regulations 2017.
3. He failed to carry out adequate ongoing monitoring in respect of one or more clients in contravention of Regulation 28 of the Money Laundering Regulations 2017.
4. He failed to receive and/or hold clients’ money in accordance with the provisions dictated by AAT’s Clients’ Money Policy.
5. He failed to ensure his professional indemnity insurance (PII) policy covered the provision of limited assurance engagement services in contravention of Paragraph 5.4 of AAT’s Professional Indemnity Insurance (PII) Policy.
6. He provided limited assurance engagement services to one or more clients without being licensed by AAT to do so, in contravention of Regulation 6.4 of AAT’s Licensing Regulations.  

By reason of the conduct set out in the Allegations above, David Atyeo is guilty of misconduct pursuant to Article 21 of AAT’s Articles of Association.

1. Fined £6,000.00.
2. Severely Reprimanded for two years.
3. Removed from AAT fellow membership (FMAAT) status for two years.

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.