Magazine article Financial Management (UK)

Disciplinary Committee

Magazine article Financial Management (UK)

Disciplinary Committee

Article excerpt

The disciplinary committee found Peter James Marsh ACMA guilty of misconduct in tailing to provide CIMA Professional Development (CPD) records for 2006 when requested by CIMA, and refusing to comply with CPD obligations in the future (bye-law 15 and members' regulation 15).

In reaching a decision the committee noted that Marsh had recognised his oblgation to comply with the CPD regulation and that it was a term of his membership that he should do so. In considering sanction the committee took into account that there was no incompetence, no harm to clients and no dishonesty. But the misconduct was regarded as serious, given the importance of the CPD system and ensuring the competence of CIMA members, and taking into account the fact that March had the opportunity to comply after he was notified in July 2006 that he would be the subject of monitoring and that he had the opportunity to resign when the new CPD regime was introduced in January 2006.

The committee concluded that the appropriate and proportionate sanction was to expel Marsh from CIMA membership. While there had been a deliberate failure to comply, the committee was concerned about the relatively high cost of the proceedings and that CIMA had not specifically warned Marsh of the cost implications of his non-compliance with the new CPD obligations at an early stage. It was decided appropriate to require him to pay a contribution of [pounds sterling]3,000 towards costs. The appeal committee dismissed his appeal that the amount was unreasonable and inappropriate. …

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