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Insolvency practitioner sanctions: Wayne Macpherson 30 May 2024

On 30 May a Disciplinary Consent Order was made against Wayne Macpherson of Begbies Traynor (Central) LLP

• From: The Insolvency Service
• Published: 7 October 2024

Applies to England, Scotland and Wales

Documents

Disciplinary Consent Order Wayne Macpherson

ODT, 30.6 KB

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Details

This Order is made in relation to a complaint that between 9 December 2021 and 18 May 2023 Wayne Macpherson as Liquidator of a company in Creditors Voluntary Liquidation (CVL)

1. breached the Fundamental Principle of Professional Competence and Due Care of the Insolvency Code of Ethics and Section 330 of the Proceeds of Crime Act 2002 by failing to report Suspicious Activity to his MLRO, and

2. breached the Fundamental Principle of Professional Competence and Due Care of the Insolvency Code of Ethics by failing correctly to understand and apply: a. the circumstances which he is obliged to report to his firm’s MLRO to allow them to consider whether to file a SAR; and b. the turnover qualification governing the amount which a company is allowed to borrow under the Government’s Bounce Back Loan Scheme.

3. breached the Fundamental Principle of Professional Competence and Due Care of the Insolvency Code of Ethics and section 7A Company Directors Disqualification Act 1986 by: a. on or around 9 March 2022 submitting to the Director Conduct Reporting Service a report which was materially misleading, and b. failing timeously to update the Director Conduct Reporting Service when further material evidence came to his knowledge.

4. breached the Fundamental Principle of Professional Competence and Due Care of the Insolvency Code of Ethics and one or more of paragraphs 5, 8, 9, and 10 of Statement of Insolvency Practice (‘SIP’) 2 by failing to conduct timeous and appropriate investigations into the affairs of the company and its director and act accordingly.

Accordingly, Mr Macpherson was found liable to disciplinary action under the IPA’s Articles of Association.

Published 7 October 2024