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CII disciplinary panel found ex-ifs director was involved in leak

The Chartered Insurance Institute has ruled that former ifs School of Finance director Tony Tudor received confidential CII information from a former secretary of the Insurance Institute of London.

A CII disciplinary panel found former IIL secretary Laon Hulme leaked documents to Tudor over a period of three years, breaching the CII’s code of ethics.

Money Marketing reported in May that two former members of the Chartered Insurance Institute had been referred to a disciplinary panel following allegations that confidential CII documents were passed to a third party.

Hulme has been banned from applying for CII membership for five years and ordered to pay costs. Tudor was reprimanded, without order for costs, and confirmed he would not re-apply for membership in the future.

CII head of policy and public affairs David Thomson says: “We are a professional body with a code of ethics and conduct that all members have to agree to sign up and adhere to. Every year we investigate approximately 80 cases which when appropriate will result in a disciplinary hearing, and the members have been disciplined appropriately, as per this case.

“It is clear that the public expectation of professional behaviour in financial services is growing and rightly so. Ethical behaviour is central to the way a professional should conduct their business and it is important that professional bodies are seen by the public to police ethical codes to ensure public trust and confidence in the profession.”

The ifs School of Finance refused to comment.

An earlier version of this article incorrectly stated that Mr Tudor was ordered to contribute to the CII’s costs


Website Comments: On whether a Tory Government may change the RDR

If the Conservatives form a Government next year and take a decision to abolish the FSA, a piece of complex legislation will be necessary, accompanied by a major period of regulatory personnel changes. I cannot see that being done by 2012.


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