The CII has confirmed the action, adding that it was taken in accordance with its disciplinary procedure rules after a possible breach of its code of ethics and conduct emerged.
Money Marketing understands that one of the parties involved is alleged to have passed documents to a third party within a rival institution, which Money Marketing understands to be the ifs School of Finance.
The ifs refused to comment on whether it or any of its staff were involved in the situation.
The CII’s panel is set up by its board and management but operates independently. The hearing is likely to take place in the next couple of weeks.
The CII says: “It would be inappropriate to comment further pending the hearing.”