The panel members were Mr Richard Hair PPNAEA (Honoured) (member panellist acting as the Chairperson for the Tribunal), Miss Jacqueline Stone FNAEA (member panellist) and Mr Steven Shaw (lay panellist).
The presenting Case Officer for Propertymark was Mr Ali Haider. Mr Foldvari was in attendance in the hearing and accompanied by Mr James Hathaway and Mr Jonathan Hallett.
Allegations
The Tribunal considered the allegations set out in the case summary sent to Mr Foldvari.
It was alleged that Mr Foldvari had acted in contravention of the requirements of the following Propertymark Conduct and Membership Rules.
- Conduct Rule 1.3: Using a Client Accounting Service Provider (CASP)
- Conduct Rule 1.7: Access to, or availability of, Client Money
- Conduct Rule 1.14: Payments out of a Client (Bank) Account
- Conduct Rule 1.18: Record keeping
- Conduct Rule 1.19: Books of record
- Conduct Rule 1.20: Supporting documentation
- Conduct Rule 1.23: Reconciliation(s) – format and frequency
- Conduct Rule 13: General duty to uphold high standards of ethical and professional behaviour
- Conduct Rule 21: Continuing Professional Development (CPD)
Mr Foldvari entered a plea denying the alleged breaches of Rules 1.3, 1.7, 1.14, 1.18, 1.19, 1.20, 1.23 and 13 but admitting a breach of Rule 21.
Decisions
The Tribunal considered the submissions from the Case Officer and the bundle of evidence and after deliberation came to the following findings:
- Conduct Rule 1.3: Proven
- Conduct Rule 1.7: Proven
- Conduct Rule 1.14: Proven
- Conduct Rule 1.18: Proven
- Conduct Rule 1.19: Proven
- Conduct Rule 1.20: Proven
- Conduct Rule 1.23: Proven
- Conduct Rule 13: Proven
- Conduct Rule 21: Admitted
Sanctions
- Conduct Rules 1.3, 1.7, 1.14, 1.18, 1.19, 1.20, 1.23, and 13: £1,000
- Conduct Rule 21: £100
In addition, the costs of this hearing of £369 were imposed against Mr Foldvari in favour of Propertymark.
Closing Statement
The Tribunal made the following statement:
'The collapse of the service provider left many landlords and tenants facing significant loss. It is clear that the member has worked in a very professional and responsible manner to minimise the impact on both clients and tenants'
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