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Disciplinary outcome: Terry Prosser

Order by consent

In the matter of

Mr Terry Prosser FMAAT

Membership number

117566

Date

12 January 2023

Misconduct

  1. He failed to comply with his obligations under the relevant Money Laundering Regulations while providing accountancy services to the public, specifically:
    1. From an unknown date until on or around 01 February 2022, he did not apply and/or record adequate client due diligence measures in respect of one or more clients; and/or
    2. From an unknown date until on or around 01 February 2022, he failed to carry out and/or record ongoing monitoring in respect of one or more clients; and/or
    3. From an unknown period up until on or around 01 February 2022, he failed to have in place adequate Anti-Money Laundering training for staff members and/or sub-contractors.
  2. From an unknown date until on or around 01 February 2022, he failed to issue and – or any adequate – letters of engagement to one or more clients, in contravention of AAT’s Client Care policy.

Finding

Grounds for disciplinary action existed and the matter was suitable for exercise of the Investigations Team's powers under the Disciplinary Regulations.

Order

  1. Reprimanded, with the reprimand to remain live on his record for a period of two years/24 months.
  2. Fined £2,000.00.

Consent

Terry Prosser has agreed to submit to the decision of the Investigations Team in accordance with Regulation 6 of the Disciplinary Regulations.

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