The Tribunal found that Ms Place had failed to manage conflicts of interest inherent in working for both parties to a transaction, failed to establish clear terms of engagement for both parties and failed to ensure that those parties were fully aware of the extent of the conflict of interest. The Tribunal also found that the member had failed to safeguard the confidentiality of her client's interest, by allowing an employee to undertake bookkeeping work for one of the parties although she had an interest in a business that was a competitor of that party. Charges alleging that the member had failed to make adequate disclosure to the parties to the transaction and had allowed her employee to have access to or work on confidential material relating to the transaction were dismissed.
The Tribunal ordered that Ms Place be warned of the need to pay close attention to the provisions of the Rules as to conflicts of interest and confidentiality. If on a future occasion the question of acting for both parties to a transaction should arise, she should decline to act for one or both parties unless she could be certain that she could do so without breaching those provisions. The Tribunal ordered that Ms Place should pay costs of £3,376.25.
