5 SEP 2017
Mr M J Reid FRICS  & Eastbourne Surveyors Limited t/a Reid + Dean
Disciplinary Panel hearing - 08 June 2017
The panel heard a case against the Firm, Eastbourne Surveyors Limited t/a Reid + Dean for failure to preserve the security of clients’ money entrusted to its care in the course of its business because the adequacy of the Firm’s accounting systems and controls were not sufficiently robust to preserve the security of clients’ money.
The panel imposed a Reprimand and a condition on the Firm’s continued Registration of RICS.
The panel also heard a charge against Mr M Reid, under Rule 3 of the Rules of Conduct for Members 2007 in that, between 1 October 2013 and May 2016 Mr Reid took monies exceeding £25,000 from the firm’s client accounts without the consent of the clients. The panel expelled Mr Reid from membership of RICS and ordered that Mr Reid and the Firm are jointly liable for RICS’ costs.