Disciplinary outcome: Peter Lawrence
Order by consent
In the matter of
Mr Peter Lawrence MAAT
1 September 2022
Peter Lawrence’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. Between on or around 01 October 2014 and on or around 06 January 2022, he failed to apply adequate risk-based due diligence and ongoing monitoring measures in respect of one or more clients.
2. Between on or around 26 June 2017 and on or around 06 January 2022, he did not carry out an adequate review of your anti-money laundering policies, controls and procedures, and
3. Between on or around 06 January 2020 and on or around 06 January 2022, he did not open a clients’ money account, in accordance with regulation 10 of AAT’s Clients’ Money policy.
4. From an unknown date up until on or around 06 January 2022, he failed to hold the minimum level of insurance cover required, in accordance with AAT’s Professional Indemnity Insurance policy.
5. For an unknown date up until on or around 06 January 2022, he failed to issue any or any adequate letters of engagement to one or more clients, in accordance with AAT’s Client Care policy.
Grounds for disciplinary action existed and the matter was suitable for exercise of the Investigations team's powers under the Disciplinary Regulations.
Peter Lawrence is hereby:
i. Reprimanded: Severe Reprimand, to remain live on Mr Lawrence’s record for a period of 2 years.
ii. Divested of his fellow membership (FMAAT) status for a period of 2 years.
iii. Fined £500
iv. Warned that failure to pay the fine within the allotted period within 90 days or on such terms that Professional Standards believes is reasonable, will result in the immediate removal of his license and membership until such time that the fine is paid in full.
Peter Lawrence has agreed to submit to the decision of the Investigations Team in accordance with Regulation 6 of the Disciplinary Regulations