Mr William Lemon AFA MIPA

Mr William Lemon AFA MIPA
County Down, Northern Ireland

Complaint

The allegations were that Mr Lemon failed to:

1. adhere to the fundamental principle of professional behaviour in the Code of Ethics para R115.1 which imposes an obligation on all professional accountants ‘to comply with relevant laws and regulations and avoid any conduct that the accountant knows or should know might discredit the profession’;

2. provide requested information or documents in accordance with Money Laundering Regulations 2017 (MLR 2017), Regulation 66;

3. carry out and provide evidence of an appropriate firm risk assessment, breaching MLR 2017 Regulation 18;

4. review and maintain policies, controls, and procedures, breaching MLR 2017 Regulation 19;

5. take appropriate measures to ensure that relevant employees are made aware of the requirements of the MLR 2017 through training therefore breaching regulation 24; and

6. carry out complete customer due diligence (CDD) on clients, and therefore breaching MLR 2017 Regulation 27 and 28.

Finding

The Regulatory Committee found that there was sufficient evidence that facts and circumstances have occurred that rendered Mr Lemon liable to disciplinary action under IFA Bye-law 11.2(c) and/or (d) for breaching the fundamental principle of professional behaviour in the Code of Ethics para R115.1 and MLR 2017 Regulations 18, 19, 24, 27, 28 and 66.

Consent Order

Reprimand, severe reprimands, total fines of £5,800 and costs of £1,000. A further monitoring review be conducted at the member’s expense.