Michael Alexander Reid

Findings — machine-extracted (anthropic-batch:claude-opus-4-8); verify against the decision

Sole practitioner Michael Alexander Reid, whose firm Reid Sinclair & Co closed in December 2008, failed to deliver a final accountants' report covering 5 May 2008 to 15 December 2008 and ignored repeated SRA correspondence and an Adjudicator's decision. He did not engage with the proceedings and the hearing proceeded in his absence following substituted service. All three allegations were proved to the criminal standard. There was no evidence of improper use of client funds, but this was his third referral to the Tribunal with a pattern of failing to engage with the regulator. He was suspended indefinitely and ordered to pay costs of £3,775.

Duties found breached:

• No conflict between current clients
• Accounting records, reconciliation and reports
• No baseless or threatened misconduct report

Aggravating factors:

• Total lack of engagement with the proceedings
• Third referral to the Tribunal with an established pattern of failing to engage with the regulator
• Accountants' report still outstanding at the time of hearing, with the position relating to client funds on closure unknown

Mitigating factors:

• No evidence of improper use of client funds
• Firm closed voluntarily as a routine closure with no issues of concern, complaints or claims from clients
• Client monies may well have been returned