GERALD EDELMAN of Whetstone agreed to a consent order where the firm was severely reprimanded, fined £10,000 and ordered to pay costs of £2,180, for failing to immediately pay client funds into a client bank account on 43 occasions totalling £3.8m. It also failed to annually review whether its systems were adequate to comply with money laundering regulations.
Orders were made against other firms by the audit registration committee and investment business committee, including CBHC LLP, PM+M Solutions, Folkes Worton and Maynard Heady, during the ICAEW’s 2014 summer disciplinary notices.