Mr David Mendelsohn FFA FIPA 18 January 2022

Mr David Mendelsohn FFA FIPA
Matters Financial Ltd
Barnet, UK

Disciplinary Committee 18 January 2022

Complaint

The Member, as director of Matters Financial Ltd has failed to:

  1. adhere to the fundamental principle of professional behaviour in the Code of Ethics para R115.1;
  2. provide requested information or documents in accordance with Money Laundering Regulations 2017 (MLR 2017), Regulation 66;
  3. ensure adequate internal controls breaching MLR 2017, Regulation 21;
  4. take appropriate measures to ensure that its relevant employees are made aware of the requirements of the MLR through training therefore breaching MLR 2017 (24 (1));
  5. provide criminal record certificates for all beneficial owners, officers and managers (BOOMS) in accordance with MLR 2017 Regulation 26;
  6. provide new customers the required data protection information before establishing a business relationship with a client in accordance with MLR Regulation 41 (4);
  7. co-operate with the administration of IFA’s compliance and monitoring functions in such form and manner as the Institute prescribes breaching IFA Bye-law 11.3 (IFA Bye-law 12.2 from 1 January 2021); and
  8. provide such information as is deemed necessary by the Institute for compliance and monitoring purposes breaching IFA Bye-law 11.2 effective 1 September 2019 to 31 December 2020 (IFA Bye-law 12.2 from 1 January 2021).

Finding

The Disciplinary Committee found there was a prima facie case to answer that renders Mr Mendelsohn liable to disciplinary action under Bye-law 11 for breaches of the above Regulations, Bye-laws and Code of Ethics.

Sentencing Order

1-6 Expelled £1000, 7-8 Fine £500.

Costs of £1,512 ordered.