Decision of Head of Regulation
Date of Order: 09 October 2025
Regulated Firm Name: Pennycuick Collins
RICS Membership Number: 030906
The Regulated Firm 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:
1. On or about 15 September 2022, Pennycuick Collins, through the actions of its employee, lacked integrity by declaring to the directors of Regency Court (Deepdale Lane) Management Company Limited that they had made an insurance claim for the repair of the electric gate of Regency Court, when in fact, no insurance claim was ever made by Pennycuick Collins.
Contrary to Rule 1 of the Rules of Conduct Global 2021
Pennycuick Collins is therefore liable to disciplinary action under RICS Bye-Law B 5.3.2 (c)
2. Between June 2022 and January 2023, Pennycuick Collins failed to provide their services in accordance with RICS technical standards, in that they incurred late payment charges totalling £360 (£210 from BT and £150 from Positive Energy) and withdrew money from the client money account of Regency Court (Deepdale Lane) Management Company Limited, without obtaining written authorisation from Regency Court.
Contrary to Rule 3 of the Rules of Conduct Global 2021
Pennycuick Collins is therefore liable to disciplinary action under RICS Bye-Law B 5.3.2 (c)
3. On 29 October 2022 and 19 November 2022 Pennycuick Collins failed to implement an adequate complaint handling procedure, in that they inadequately responded to two formal complaints raised by directors of Regency Court (Deepdale Lane) Management Company Limited, in a prompt, transparent, and professional manner.
Contrary to Rule 5 of the Rules of Conduct Global 2021
Pennycuick Collins are therefore liable to disciplinary action under RICS Bye Law B5.3.2 (c).
4. Between 31 March 2023 and 9 April 2025, Pennycuick Collins failed to provide a good quality and diligent service by failing to deliver finalised year-end 2022/2023 service charge accounts to Regency Court (Deepdale Lane) Management Company Limited.
Contrary to Rule 3 of the Rules of Conduct Global 2021.
The Firm is therefore liable to disciplinary action under RICS Bye-law 5.3.2 (c)
Outcome: Regulatory Compliance Order (RCO)
This requires the Regulated Firm to accept a caution, contribute £1600 towards the cost of investigation, and agree to publication of a summary of the Order for a period of 12 months.