The panel members were Mr Jim Atkins PPNAEA (Honoured) (member panellist acting as the Chairperson for the Tribunal); Mrs Carol Brady MBE (lay panellist); and Ms Jacqueline Stone FNAEA (member Panellist).
The presenting Case Officer for Propertymark was Miss Farrah Gibson.
Mr Razin Omar attended the Hearing via Zoom along with counsel Mr Rhys Johns.
Allegations
The Tribunal considered the allegations set out in the case summary sent to Mr Omar.
It was alleged that Mr Omar had acted in contravention of the requirements of the following Propertymark Conduct and Membership Rules.
- Conduct Rule 1.8: Client Money from members’ propertiess
- Conduct Rule 1.13: Payments into a Client (bank) Account
- Conduct Rule 1.14: Payments out of a Client bank account
- Conduct Rule 11: Anti-Money Laundering (AML)
- Conduct Rule 13: General Duty to Uphold High Standards of Ethical and Professional Behaviour
Decisions
After consideration of the evidence presented and submissions by the parties, the Tribunal announced the following findings:
- Conduct Rule 1.8: Not proven
- Conduct Rule 1.13: Proven
- Conduct Rule 1.14: Not proven
- Conduct Rule 11: Proven
- Conduct Rule 13: Proven
Sanctions
- Conduct Rule 1.13: £350
- Conduct Rule 11: £450
- Conduct Rule 13: £350
Additionally, the costs of this Hearing of £751 were imposed against Mr Omar in favour of Propertymark.
Closing Statement
The Tribunal made the following statement:
'We have carefully considered all the evidence and representations made at todays hearing in order to come to our conclusions in this matter. It is a fact that a significant sum of money was paid into your client account in breach of our rules, but it was removed shortly thereafter.
Mr Omar has admitted that if that had not been done, the property transaction to which it related would not have completed on time. We accept that no client’s monies were used within the proven breaches, but nevertheless they are the most serious abuses of our rules.
It was only after a Propertymark Compliance Inspection which found that Mr Omars firm was not registered for AML, that he registered.
We thank you both for attending today’s tribunal as it has assisted us in clarification of certain events. Thank you.'
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