Take note of the latest disciplinary cases to ensure you or your firm are not making similar mistakes.
Since the last update, one Tribunal Committee tribunal order, one Appeal Committee panel order and five consent orders from the Conduct Committee have been published.
Included within the latest published orders are the following:
Tribunal Committee tribunal order
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Failure to cooperate with regulatory requests
A member was found to have failed to provide required information, explanations, and documents in response to formal requests from ICAEW.
Appeal Committee panel order
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Sanction reduction on appeal
A member appealed against a decision made by the Tribunal Committee in respect of them failing to provide required information, explanations and documents in response to formal requests from ICAEW. The appeal was allowed in part and the sanction was reduced and the financial penalty removed.
Conduct Committee consent orders
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Compliance matters
A member engaged in public practice for a period of two months without professional indemnity insurance.
AND
Several separate members entered into separate consent orders in respect of them being a principal of a firm engaged in public practice which entered into administration. Each member had also failed to ensure that appropriate professional indemnity insurance was in place for at least 24 months following the cessation of the practice.
AND
A member firm failed to ensure that they complied with various anti-money laundering regulations, including that they failed to establish and maintain appropriate and risk-sensitive policies and procedures relating to customer due diligence measures and monitoring and risk assessment and were not applied on all clients, and/or that they did not take appropriate measures to ensure its employees were made aware of the legislation; given training or did not maintain a written record of the measure taken in relation to training offered; and/or that there was inadequate and/or no evaluation of the adequacy and effectiveness of the firm’s policies, controls and procedures.
Key themes
- Failure to co-operate with ICAEW
- Regulatory compliance breaches including the failure to have professional indemnity insurance, and breaches of the anti-money laundering regulations.
- Being a principal of a firm engaged in public practice which entered into administration.
Further details can be found on our Disciplinary Database or please visit our Public Hearings page.
Useful links
Please make use of the following resources to ensure you are up to date with the latest regulatory information and news.
- ICAEW Ethics hub
- ICAEW’s Regulation hub
- Disciplinary Bye-laws
- Regulatory & Conduct news - subscribe to stay up to date on latest regulatory news or follow us on our dedicated Regulation and Conduct LinkedIn channel.