Disciplinary outcome: Stuart Barr

1. He failed to have in place any or any adequate procedures to report discrepancies in Persons with Significant Control register.
2. He failed to have in place any or any adequate Anti-Money Laundering training for staff members.
3. He failed to carry out any or any adequate risk assessments and ongoing monitoring of risk in respect of one or more clients.
4. He failed to implement effective verification procedures for one or more clients.
5. He failed to receive and hold clients’ money in full accordance with AAT’s Clients’ Money Policy.
6. He failed to have in place any or any adequate Letters of Engagement.

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

The Investigation Team orders that Stuart Barr be:

1. Severely Reprimanded for a period of two years.
2. Fined £5,500.00
3. Divested of FMAAT (fellow) status for a period of two years. 

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.