The panel members were Mr Jim Atkins PPNAEA (Honoured) (member panellist acting as the Chairperson for the Tribunal), Miss Jacqueline Stone FNAEA (member panellist) and Ms. Gillian Fleming (lay panellist).
The presenting Case Officer for Propertymark was Mr Hadley Easterlow. Mr Muat and Mr Marchant were in attendance in the hearing. Hallett.
Allegations
The Tribunal considered the allegations set out in the case summary sent to Mr Muat and Mr Marchant.
It was alleged that Mr Muat and Mr Marchant 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 1.18: Record keeping
- Conduct Rule 1.19: Books of record
- Conduct Rule 1.20: Supporting documentation
- Conduct Rule 1.21: Preservation of records
- 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 23: Continuing Professional Development (CPD)
Decisions
Mr Muat and Mr Marchant admitted the alleged breaches, the Case Officer withdrew the allegation of a breach of Rule 13.
- Conduct Rule 1.7: Admitted
- Conduct Rule 1.14: Admitted
- Conduct Rule 1.18: Admitted
- Conduct Rule 1.19: Admitted
- Conduct Rule 1.20: Admitted
- Conduct Rule 1.21: Admitted
- Conduct Rule 1.23: Admitted
- Conduct Rule 13: Case Officer withdrew the allegation
- Conduct Rule 23: Admitted
Sanctions
- Conduct Rules 1.7, 1.14, 1.18, 1.19, 1.20, 1.21 and 1.23: £1,000 each respondent
- Conduct Rule 21: £150 each respondent
In addition, costs of this hearing of £415 were imposed against Mr Muat and Mr Marchant in favour of Propertymark.
Closing Statement
The Tribunal made the following statement:
'We thank you for attending the Tribunal today. Your attendance has assisted us with a proper understanding of the allegations. You have also apologised for the time it has taken you in the full rectification of your client account. While your accounts are apparently now compliant there is no doubt that for a period of years you have failed to address and improve your systems. We trust that going forward, the measures that you have now put in place will ensure clear, unqualified annual reports.
You accept that despite the qualification within your first accountant’s report you failed at that stage to fully investigate and rectify the situation.
You have inconsistently logged CPD hours with under quota for certain periods, over quota for another and none at all in certain years according to our records. You are required to log a minimum of 12 hours in each year and that must be done.'
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