Disciplinary outcome: Lewis Chaffey
Order by consent
In the matter of
Mr Lewis Chaffey MAAT
Membership number
10155736
Date
8 April 2024
Misconduct
Lewis Chaffey’s professional or personal conduct, was found to be in breach of the Code of Professional Ethics and to have posed a risk to the public or was likely to undermine public confidence in the Association or its members; namely:
- He failed to comply with his obligations under the relevant Money Laundering Regulations while providing accountancy services to the public, specifically:
- For an unknown period up until on or around 23 November 2022, he failed to carry out any or any adequate initial risk assessment and ongoing monitoring of risk in respect of one or more clients and/or
- For an unknown period up until on or around 23 November 2022 he failed to have in place adequate Anti-Money Laundering training for staff members and/or sub-contractors and/or
- For an unknown period up until on or around 23 November 2022 he failed to carry out an adequate firm-wide Money Laundering risk assessment and/or
- For an unknown period up until on or around 23 November 2022 he failed to have in place any or any adequate documented Anti-Money Laundering policies, procedures, and controls and/or
- For an unknown period up until on or around 23 November 2022 he failed to carry out any or any adequate client due diligence in respect of one or more clients and/or
- For on or around 19 July 2021 until on or around 29 November 2023, he provided self-employed accountancy or related services to the public trading as Coastal Bookkeeping & payroll Limited without being registered with a supervisory authority for the purposes of Anti Money Laundering.
- For an unknown period up until on or around 23 November 2022 he failed to receive and hold clients’ money in accordance with regulation 10 of AAT’s Clients’ Money policy.
- For an unknown period up until on or around 23 November 2022, he failed to obtain consent to take fees and 30 days had not elapsed since delivery of invoice in accordance with regulation 28 of AAT’s Clients’ Money policy.
- For an unknown period up until on or around 23 November 2022, he failed to have in place any or adequate arrangements for continuity of practice.
- For an unknown period until on or around 23 November 2022, he failed to issue any or any adequate letters of engagement to one or more clients.
Finding
Grounds for disciplinary action existed and the matter was suitable for exercise of the Investigations Team's powers under the Disciplinary Regulations.
Order
Lewis Chaffey is hereby:
- Severely Reprimanded for a period of 36 months (3 years)
- Fined £3000
- Divested of FMAAT status for a period of 36 months (3 years)
Consent
Lewis Chaffey consented to the decision of the Investigations Team in accordance with Regulation 5.3 of the Disciplinary Regulations 2024.
