Disciplinary outcome: Kabilan Parameswara Sarma

1. For an unknown period until on or around 4 August 2025 he failed to conduct criminal record checks for one individual considered to be a beneficial owner, officer or manager, in breach of Regulation 26 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
2. For an unknown period until on or around 4 August 2025 he failed to demonstrate and/or record adequate money laundering risk assessment(s) 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.
3. For an unknown period until or around 4 August 2025 he failed to demonstrate effective verification procedures in relation to customer due diligence measures, in breach of Regulation 28 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
4. His Firm’s professional indemnity insurance (PII) cover for period 28 January 2025 to 27 January 2026 failed to meet AAT’s minimum requirements, breaching Section 5 of AAT’s Professional Indemnity Insurance (PII) Policy.
5. For an unknown period up until on or around 4 August 2025, he had been providing and/or holding himself out as providing company secretarial services (TCSP) whilst not being licensed by AAT to do so, in breach of Regulation 6.4 of AAT’s Licensing Regulations 2024.

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

1. Severely reprimanded for a period of three years.
2. Fined £3,500.00.

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.