Decision of Head of Regulation
Date of Order: 10 April 2024
Regulated Member Name: Timothy Wordsworth
RICS Membership Number: 1187149
Location: East Midlands
The Regulated Member has admitted the following breach of the rules of conduct, and accepted liability for disciplinary action and the imposition of Regulatory Compliance Order for the following:
Between June 2021 and February 2022, the Regulated Member accepted instructions and payment from 7 clients for the provision of home survey reports and, having failed to provide such reports in a timely manner or at all, he also did not refund the payments received. Accordingly, the Regulated Member acted contrary to Rules 3 and 5 of the Rules of Conduct for Members 2020 (version 7 with effect from 2 March 2020) and Rules 1 and 3 of the Rules of Conduct Global 2021.
Outcome: Regulatory Compliance Order (RCO)
This Regulated Member accepted a reprimand and agreed to the following condition on his continued membership of RICS:
Mr Wordsworth is not a principal of a firm either:
a. Registered for regulation with RICS,
b. A firm required to register under Rule 3.1 of the Rules for Registration of Firms, or
c. A firm eligible for registration.
without prior approval from RICS. In order to gain approval, Mr Wordsworth must demonstrate to RICS that he can manage his professional finances responsibly. RICS can approve, approve with conditions or refuse Mr Wordsworth’s application.
Mr Wordsworth must make a request for approval in writing either:
a. Prior to taking up an appointment as principal at a firm registered for regulation with RICS,
or
b. Alongside an application for registration of a new firm.
Mr Wordsworth can apply to have this condition reviewed and removed in 12 months from the date of this decision. Upon making an application RICS can decide whether to continue, vary or remove the condition on Mr Wordsworth’s membership.
The Regulated Member also agreed to contribute £2500 towards the cost of the investigation and to the publication of a summary of the Order for 12 months.