Mr David Mendelsohn FFA FIPA - 18 January 2022
Mr David Mendelsohn FFA FIPA
Matters Financial Ltd
Barnet, UK
Complaint
The Member, as director of Matters Financial Ltd has failed to:
- adhere to the fundamental principle of professional behaviour in the Code of Ethics para R115.1;
- provide requested information or documents in accordance with Money Laundering Regulations 2017 (MLR 2017), Regulation 66;
- ensure adequate internal controls breaching MLR 2017, Regulation 21;
- 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));
- provide criminal record certificates for all beneficial owners, officers and managers (BOOMS) in accordance with MLR 2017 Regulation 26;
- provide new customers the required data protection information before establishing a business relationship with a client in accordance with MLR Regulation 41 (4);
- 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
- 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.