Disciplinary outcome: Frances Sollis

1. She did not comply with her obligations under the Money Laundering Regulations while providing accountancy and/or related services on a self-employed basis. Specifically, she failed to regularly review and update her firm’s anti-money laundering policies, controls, and procedures, contrary to Regulation 19(1)(b).
2. She failed to have a written continuity of practice agreement in place, as required by AAT’s Continuity of Practice Policy.
3. She failed to maintain the minimum level of professional indemnity insurance (PII) cover, as set out under paragraph 5.2 of AAT’s PII Policy.
4. For an unknown period up until 01 March 2026, she provided Business Income Tax and Capital Gains Tax services when she was not licensed by AAT to provide those services, contrary to paragraph 6.4 of AAT’s Licensing Regulations.
5. She failed to issue letters of engagement that complied with the requirements set out at paragraph 5.1 of AAT’s Client Care Policy.

By reason of the conduct set out in the Allegation above, Frances Sollis is guilty of misconduct pursuant to Article 21 of AAT’s Articles of Association.

1. Reprimanded for a period of three years.
2. Fined £3,500.00.
3. Divested of her fellow member (FMAAT) status for a period of three years.
4. Warned about her future conduct. 

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.