Disciplinary outcome: Nicola Hobbs
Order by consent
In the matter of
Mrs Nicola Hobbs MAAT
Membership number
7996374
Date
11 November 2022
Misconduct
Nicola Hobb’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. She failed to comply with her obligations under the Money Laundering Regulation in force while providing accountancy and/or bookkeeping services to the public, specifically:
1.1. between on or around 26 June 2017 and on or around 07 January 2022, she failed to apply adequate risk-based due diligence and ongoing monitoring measures in respect of one or more clients; and/or
1.2. For an unknown period up until on or around 07 January 2022, she failed to undertake any or any adequate anti-money laundering training.
2. For an unknown period up until on or around 07 January 2022, she failed to have in place any or any adequate continuity of practice agreement.
3. For an unknown period up until on or around 07 January 2022, she failed to issue a disengagement letter to one or more clients as required under paragraph 10 of AAT’s Client Care policy.
4. For an unknown period until on or around 07 January 2022, she failed to issue an adequate letter of engagement to one or more clients as required under paragraph 5 of AAT’s Client Care policy.
5. For an unknown period until and on or around 07 January 2022, she did not have adequate professional indemnity insurance in place, as required by AAT’s Professional Indemnity Insurance policy.
6. Between on or around January 2011 and on or around 07 January 2022, she provided company secretarial services outside the scope of your license.
Finding
Grounds for disciplinary action existed and the matter was suitable for exercise of the Investigations team's powers under the Disciplinary Regulations.
Order
Nicola Hobbs is hereby:
i. Reprimanded: Severe Reprimand to remain live of Mrs Hobbs record for a period of 2 years
ii. Fined £2,500
iii. Devested of her fellow membership (FMAAT) status for a period of 2 years
iv. Warned: Failure to pay the fine within the 90 days of the invoice date or by a date deemed suitable by AAT, then the Investigations Team further recommends that Mrs Hobbs be removed from AAT’s Register as a member until such a time that the fine is paid.
Consent
Nicola Hobbs is deemed to have agreed to submit to the decision of the Investigations Team in accordance with Regulation 6 of the Disciplinary Regulations.
