Disciplinary outcome: Sadiq Merchant
Order by consent
In the matter of
Mr Sadiq Merchant MAAT
Business name
Silvertree Accounting Services Limited
Membership number
10220810
Date
11 September 2026
Misconduct
- He failed to carry out any or any adequate regular review of his Anti-Money Laundering policies, procedures, and controls in contravention of Regulation 21(c) of the Money Laundering Regulations 2017.
- He failed to carry out any or any adequate client due diligence and/or risk assessment in respect of one or more clients in contravention of Regulation 28 of the Money Laundering Regulations 2017.
- He failed to ensure that Silvertree Accounting Services Limited had professional indemnity insurance (PII) policy coverage in place that met the minimum level stipulated in Paragraphs 5.2 and 5.3 of AAT’s Professional Indemnity Insurance (PII) Policy.
Finding
The Investigation Team finds that, by reason of the conduct set out in the allegations above, Sadiq Merchant has committed misconduct pursuant to Article 21 of AAT’s Articles of Association.
Order
- £2,500.00 fine.
- A severe reprimand, to remain live for two years.
- Removal of fellow membership (FMAAT) status for two years.
Consent
The decision of the Investigation Team shall stand as an Order of the Association pursuant to Regulation 5.3 of the Disciplinary Regulations.
