Disciplinary outcome: Stephen Light
Order by consent
In the matter of
Mr Stephen Light MAAT
Membership number
10019268
Date
19 December 2023
Misconduct
Stephen Light's conduct was found to be in breach of 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 comply with his obligations under the relevant Money Laundering Regulations 2017 while providing accountancy services to the public, specifically:
1.1From an unknown date until on or around 14 June 2022, he failed to carry out adequate ongoing risk monitoring in respect of one or more clients.
2.From on or around 1 October 2020 up until on or around 14 June 2022, he failed to have in place adequate Professional Indemnity Insurance coverage, in accordance with AAT’s Professional Indemnity Insurance 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
Stephen Light is hereby:
i. Fined £1,500.00
ii. Reprimand for a period of 2 years (24 months)
Consent
Stephen Light has agreed to the decision of the Investigations Team in accordance with Regulation 6 of the Disciplinary Regulations.
