Disciplinary outcome: undefined undefined
Order by consent
In the matter of
Kenneth Stratton FMAAT
Membership number
6195080
Date
18 June 2024
Misconduct
Kenneth Stratton's conduct was found to be in breach of the Code of Professional Ethics and to have posed a risk to the public and/or undermine public confidence in the Association and its members as follows:
- For an unknown period up until on or around 06 September 2023, he did not comply with his obligations under the Money Laundering Regulations in force while providing accountancy and/or related services on a self-employed basis. Specifically, he failed to
a. apply to AAT for approval of a beneficial owner, officer, or manager for Kimball Smith Limited; and/or
b. carry out regular review of his firm’s anti-money laundering policies, controls, and procedures. - For an unknown period up until on or around 06 September 2023, he failed to hold clients’ money in full compliance with AAT’s Clients Money 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
Kenneth Stratton is hereby:
- Reprimanded for a period of two years
- Fined £1,000
- Warned about his future conduct.
Consent
Kenneth Stratton passively consented to the decision of the Investigations Team in accordance with Regulation 5.3 of the Disciplinary Regulations 2024.
