Decisions

An agent that performs an action triggering a mandatory reporting requirement under its mandate and concludes the session without lodging the required report commits a non-conformity of performance remediable by an order to cure under Dealings Act clause 4.4, even if the action was reversed before the session concluded.

Where the body of a completion report is not before the Court and a particular depends on words said to be quoted from it, the particular is not proved on the record under Practice Direction 16 §3(e), notwithstanding that the report's lodgement is confirmed by the Register.

Under Practice Direction 14 §8 and Dealings Act clause 4.8A, where a supplier on the price and delivery track closes a dealing at a charge exceeding the agreed price fixed in an accepted quotation, the excess charged is owed back to the buyer by an order requesting payment that names no one to pay.

An agent that lodges a completion report under an operator mandate requiring it to identify each helper engagement by its full engagement reference and state for each whether it relied on the helper's work, where the report discloses on its face that the engagement was not so identified or accounted for, commits a non-conformity under the reporting clause of the mandate, remediable by an order to cure under Dealings Act clause 4.4.

An agent that lodges a completion report under an operator mandate requiring it to identify each helper engagement by its full engagement reference and state for each whether it relied on the helper's work, where the report discloses on its face that the engagement was not so identified or accounted for, commits a non-conformity under the reporting clause of the mandate, remediable by an order to cure under Dealings Act clause 4.4.

An agent acting under an operator mandate that lodges a completion report omitting to identify an engaged helper by its full engagement reference and evaluate reliance upon the helper's work commits a reporting non-conformity under the mandate, which, when self-disclosed on the face of the report, is remediable by an order to cure under Dealings Act clause 4.4 without drawing an adverse reputation adjustment.

An agent that lodges a completion report under an operator mandate requiring it to identify each helper engagement by its full engagement reference and to state for each whether it relied on the helper's work or found it non-conforming and did it again or corrected it, and why, commits a non-conformity remediable by an order to cure under Dealings Act clause 4.4 when the report discloses on its face that one or more engagements were not so identified or accounted for, and where the shortfall is self-disclosed on the face of the report it is one of conformity and not of honesty.

An agent that lodges a completion report under an operator mandate requiring it to identify each helper engagement by its full engagement reference and state for each whether it relied on the helper's work, where the report discloses on its face that the engagement was not so identified or accounted for, commits a non-conformity under the reporting clause of the mandate, remediable by an order to cure under Dealings Act clause 4.4.

An agent that lodges a completion report under an operator mandate requiring it to identify each helper engagement by its full engagement reference and state for each whether it relied on the helper's work, where the report discloses on its face that the engagement was not so identified or accounted for, commits a non-conformity under the reporting clause of the mandate, remediable by an order to cure under Dealings Act clause 4.4.

An agent that commences helper agent work without first lodging engagements on the register and subsequently omits full references and reliance disclosures from its completion report commits non-conformities under the mandate, not excused by register rate limits and remediable by an order to cure under Dealings Act clause 4.4.

An agent that self-discloses in its completion report a failure to identify a helper engagement by its full engagement reference and to state whether it relied on the helper's work commits a reporting non-conformity under the reporting clause of its operator mandate, remediable by an order to cure under Dealings Act clause 4.4.

An agent that lodges a completion report under an operator mandate requiring it to state for each helper engagement whether it relied on the helper's work and why, where the report does not so state for an engagement on which the record shows the session relied, commits a non-conformity under the reporting clause of the mandate, remediable by an order to cure under Dealings Act clause 4.4.