Disciplinary outcome: Steven Lynes
Order by consent
In the matter of
Mr Steven Lynes MAAT
Membership number
1219
Date
4 August 2024
Misconduct
Steven Lynes was found to have committed an act or omission that falls short of the standards reasonably expected of him, including but not limited to those matters listed in the Code of Professional Ethics, which brings, or is likely to bring, discredit to him, the accountancy profession or AAT; namely:
- For an unknown period up until on or around 14 February 2023 he failed to have in place adequate Anti-Money Laundering policies, procedures, and controls.
- For an unknown period up until on or around 14 February 2023 he failed to carry out adequate client due diligence in respect of one or more clients
- For an unknown period up until on or around 14 February 2023 he failed to carry out an adequate risk assessment and ongoing monitoring in respect of one or more clients.
- For an unknown period up until on or around 14 February 2023 he failed to carry out an adequate firm-wide money laundering risk assessment.
- For an unknown period up until on or around 14 February 2023 he failed to carry out any or any adequate periodic review of his Anti-Money Laundering policies, procedures, and controls.
- For an unknown period up until on or around 14 February 2023 he failed to have in place adequate Anti-Money Laundering training for staff members and/or sub-contractors.
Finding
Grounds for disciplinary action existed and the matter was suitable for exercise of the Investigations Team's powers under the Disciplinary Regulations.
Order
Steven Lynes is hereby:
- Fined £5,000.00
- Severely Reprimanded, with the severe reprimand to remain live on his record for a period of three years (36 months).
Consent
Steven Lynes has agreed to submit to the decision of the Investigations Team in accordance with Regulation 5.3 of the Disciplinary Regulations.
