David Hayhurst

Findings — machine-extracted (anthropic-batch:claude-opus-4-8); verify against the decision

David Hayhurst, an experienced property solicitor and senior partner at 174 Solicitors Ltd, admitted that between November 2014 and November 2016 he failed to adequately advise clients investing in four fractional property development schemes about the high inherent risks, breaching Principles 4, 5 and 6 and failing to achieve Outcome 1.5. The schemes involved high deposits (40-80%) financing developments, with minimal protection over buyers' funds; none of the developments completed, placing purchasers' funds at risk. The matter was resolved on the papers via an Agreed Outcome. No dishonesty was alleged or found. The Tribunal assessed the conduct as Level 3 ('more serious') and imposed a fine of £10,000 plus £15,000 costs.

Duties found breached:

• Uphold public trust in the profession
• Act in the client's best interests
• Non-discriminatory acceptance and cab-rank
• Competence

Aggravating factors:

• Harm was foreseeable given the Respondent's level of experience
• Substantial sums invested by clients (at least £2,880,970.67 across 118 units) placed at risk of total loss

Mitigating factors:

• Lengthy previously unblemished disciplinary record over nearly 40 years
• Made admissions to the matters raised
• At the time he considered he had complied with his obligations and acted honestly and genuinely
• Warning notice on investment schemes post-dated his involvement
• Provided client care letter and terms referencing risk and retainer
• Demonstrated genuine insight and reflection