The panel members were Mr. Neville Pedersen FNAEA (Honoured) (member panellist acting as the Chairperson for the Tribunal); Ms. Jacqueline Stone FNAEA (member panellist) and Mr. Noel Hunter OBE (lay panellist).
The presenting Case Officer for Propertymark was Miss Farrah Gibson.
Mr Siddique was not in attendance. The Hearing took place in private and was recorded.
Allegations
The Tribunal considered the allegations set out in the case summary sent Mr Siddique.
It was alleged that Mr Siddique had acted in contravention of the requirements of the following Propertymark Conduct and Membership Rules.
- Conduct Rule 1.7: Access to, or availability of, Client Money
- Conduct Rule 1.14: Payments out of a Client (Bank) Account
- Conduct Rule 5: Propertymark Client Money Protection
- Conduct Rule 13: General duty to uphold high standards of ethical and professional behaviour
- Conduct Rule 23: Continuing professional development (CPD) rules
Decision
After consideration of the evidence presented and submissions by the parties, the Tribunal announced the following findings:
- Conduct Rule 1.7: Proven
- Conduct Rule 1.14: Proven
- Conduct Rule 5: Proven
- Conduct Rule 13: Proven
- Conduct Rule 23: Withdrawn by case officer
Sanctions
- Conduct Rule 1.7: £2,500
- Conduct Rule 1.14: £2,500
- Conduct Rule 5: £5,000
- Conduct Rule 13: £5,000
Additionally, with the costs of the hearing, £522.50 also being imposed against Mr Siddique in favour of Propertymark.
Closing Statement
The Tribunal made the following statement:
‘The case against Mr Siddique is one of the most serious we have had to consider at tribunal. He has left behind him a trail of creditors both business and consumer.
This has left us with no other alternative than to apply the maximum penalties available to us on all breaches of Propertymark rules. It is the view of the tribunal that Mr Siddique should not be permitted to re-join Propertymark at any point in the future.’
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