Disciplinary outcome: Ryan Mundy
Order by consent
In the matter of
Ryan Mundy FMAAT
Membership number
10366967
Date
13 September 2023
Misconduct
Ryan Mundy’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 25 February 2023, he did not comply with his obligations under the Money Laundering Regulations in force while providing accountancy services on a self-employed basis. Specifically, he failed to:
a. carry out any or any adequate ongoing client due diligence
b. carry out a review of his firm’s anti-money laundering policies, controls, and procedures. - For an unknown period up until on or around 31 October 2022, he failed to hold clients’ money in full compliance with AAT’s Clients' Money Policy.
- For an unknown period up until on or around 31 October 2022, he failed to issue a letter of engagement to one or more clients in full compliance with 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
Ryan Mundy is hereby:
- Reprimanded for a period of two years
- Fined £500
- Warned about his future conduct.
Consent
Ryan Mundy passively consented to the decision of the Investigations Team in accordance with paragraph 6 of the Disciplinary Regulations.
