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MFAA Prosper : Mortgage and Finance Brief 13
50 Mortgage & Finance brief Failure to comply with external dispute resolution schemes’ judgments A member’s conduct came under investigation recently after two consumers made complaints. The complaints centred around the member’s failure to comply with separate awards or orders from an External Disputes Resolution scheme and a consumer complaints tribunal, which had ordered the member to pay money to the consumers in settlement of complaints made to those bodies. The Tribunal commented that it found itself in an invidious position of effectively enforcing these orders. It said that, while that is not the direct role of the Tribunal, failure to comply with such orders can amount to a breach of the MFAA rules, as well as amounting to misconduct, as it can bring the Association into disrepute. The dilemma in which the Tribunal found itself in this case was thus: Does it simply look at the matter as an ethical issue or does it seek to obtain for the complainants whatever was ordered by the complaint bodies? While it viewed its role as the former, in this case it focused on the latter as it seemed (especially in relation to one of the complaints because it involved ongoing payments) it was likely to appear before the Tribunal again. The member ran ‘hot and cold’ in his dealings with the Tribunal, and was uncontactable for long periods. He did not pay the amounts ordered, so was suspended. Such suspension was to be reassessed should he pay the outstanding monies. Ultimately the payments were made and the complainants indicated they were satisfied with the outcome. Accordingly, although finding the allegations substantiated, the Tribunal reinstated the membership after the payments were made. Case 1 Each Month, thE MFaa Disciplinary tribunal MEEts to Discuss thE latEst inciDEnts oF MisconDuct. mortgage & FinanCe BrieF rEports on thE Most rEcEnt casEs, plus thE lEssons that brokErs can lEarn FroM thEM. knowledge centre By phil naylor memBership disCiplinary triBunal illustrationthinkstock
Mortgage and Finance Brief 12
Mortgage and Finance Brief 14