Disciplinary outcome: Rachael Taylor

1. For an unknown period until on or around 9 January 2026 she 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 up until on or around 9 January 2026 she failed to carry out and/or record an adequate firm-wide money laundering risk assessment in breach of Regulation 18 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
3. For an unknown period until on or around 9 January 2026 she failed to document anti-money laundering policies, controls and procedures in breach of Regulation 19 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
4. For an unknown period until or around 9 January 2026, she failed to carry out a regular review of anti-money laundering policies, controls and procedures in breach of Regulation 21 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
5. For an unknown period until on or around 9 January 2026 she failed to demonstrate and/or record adequate money laundering risk assessments 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.
6. For an unknown period until on or around 9 January 2026 she failed to record adequate customer due diligence (know your client) documentation regarding client identification in respect of 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.
7. For an unknown period until on or around 9 January 2026 she failed to carry out and/or document ongoing monitoring in respect of one or more existing clients in breach of Regulation 28(11) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
8. For an unspecified period, she failed to maintain appropriate professional indemnity insurance (PII) cover, in breach of AAT’s Professional Indemnity Insurance (PII) Policy.
9. For an unknown period until or around 9 January 2026, she has been providing or holding herself out as providing limited assurance engagement services whilst not being licensed by AAT to do so, in breach of Regulation 6 of AAT’s Licensing Regulations 2024.
10. For an unknown period until or around 9 January 2026, she has failed to provide an adequate engagement letter(s) to one or more clients, in breach of AAT’s Client Care Policy.

By reason of the conduct set out in the Allegations above, Rachael Taylor 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 £5,500.00.

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.