Decision of the Disciplinary Panel
Date of Decision: 13 and 14 October 2020
Case of: Richard Hopwood and Acorn Lettings Midlands Limited
RICS Membership Number: 0058233
RICS Registration Number: 051035
Location: Leicester, UK
The formal charges against Richard Hopwood are that:
1. Between 21 January 2016 and 28 February 2017, he transferred or instructed to be transferred, client money totaling £10,500 to the office account of Acorn Lettings Midlands Limited (‘the Firm’) for the purpose of a Firm loan. These actions constitute one or more of the following:
a. Dishonesty in that he used, or allowed to be used, client money for a Firm loan when he was not entitled to do so;
b. A lack of integrity in that he demonstrated a deliberate or reckless disregard for his professional obligations; and/or
c. A failure to act in a way that is consistent with his professional obligations in that he failed, in his capacity as the principal of the Firm, to ensure that the Firm preserved the security of clients’ money entrusted to its care in the course of business.
Contrary to rule 3 of the Rules of Conduct for Members 2007
The formal charges against Acorn Lettings Midlands Limited are as follows:
1. Between 21 January 2016 and 28 February 2017, client money totaling £10,500 was transferred to the Firm’s office account for the purpose of a Firm loan. These actions constitute one or more of the following:
a. a failure to preserve the security of clients’ money entrusted to its care;
Contrary to Rule 8 of the RICS Rules of Conduct for Firms 2007
b. a failure to act with integrity and/or to avoid actions that are inconsistent with its professional obligations
Contrary to Rule 3 of the RICS Rules of Conduct for Firms 2007
Finding: Proved & Proved
Sanction: Expelled (RICS Member) & Deregistration (firm)
The Disciplinary Panel also made an order to costs.