Disciplinary outcome: Michael Clifton
Order by consent
In the matter of
Mr Michael Clifton AATQB
17 November 2022
- He failed to comply with his obligations under the relevant Money Laundering Regulations while providing accountancy services to the public, specifically:
- From an unknown date until on or around 27 January 2022, he did not apply and/or record adequate client due diligence measures in respect of one or more clients; and/or
- From an unknown date until on or around 27 January 2022, he failed to carry out and/or record ongoing monitoring in respect of one or more clients.
- For an unknown period up until on or around 27 January 2022, he failed to have in place adequate Anti-Money Laundering training for staff members and/or sub-contractors
- For an unknown period until on or around 27 January 2022, he provided trust or company services without being licensed by AAT or registered with HMRC to do so.
- For an unknown period until 27 January 2022, he provided payroll services outside the scope of his AAT practising licence.
Grounds for disciplinary action existed and the matter was suitable for exercise of the Investigations Team's powers under the Disciplinary Regulations.
- Reprimanded, with the reprimand to remain live on his record for a period of two years (24 months).
- Fined £2,500.00.
Michael Clifton has agreed to submit to the decision of the Investigations Team in accordance with Regulation 6 of the Disciplinary Regulations.