Disciplinary outcome: Martin Caruana

Martin Caruana'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:

1. He failed to hold clients’ money in a client bank account separate from the firm’s bank account as is required under AAT’s Clients’ Money Policy
2. He submitted a licence renewal application wherein he answered “Yes” to the statement, “I understand that all clients' money must be held in a client bank account and if I do hold clients' money, I will comply with my obligations under AAT's Clients' Money Policy”
3. His conduct at Allegation 2 above was misleading
4. He failed to prepare a set of charity accounts in accordance with the Charity Commission requirements.

By reason of the conduct set out in the Allegations above, Martin Caruana is guilty of misconduct pursuant to Article 21 of AAT’s Articles of Association.

Martin Caruana is hereby:

1. Reprimanded for a period of two years 
2. Fined £1,500
3. Warned about his future conduct.

The decision of the Investigations Team shall stand as an Order of the Association pursuant to Regulations 5.2 and 5.3 of the Disciplinary Regulations.