A certified financial planner is threatening to quit the "mafia-like" CII after it warned it would take disciplinary action against him unless he supplies full CPD records.
The managing director of a North-West based IFA, who has asked to remain anonymous, received a letter from the CII dated 10 June asking him to submit CPD records for the last 12 months or face punitive consequences.
It states he has been selected at random and asks for records to be handed over within four weeks, adding it sent an original request in May.
The adviser has been told if he fails to comply he will be stripped of his membership, named and shamed in the organisation's journal and reported to the FSA.
The adviser, an IFA for 20 years, says the CII is acting outside its remit, encroaching on regulatory grounds and using bullying tactics.
"Why on earth does the CII think I should report to them?" he says. "The CII obviously thinks it is a regulator. They have asked me to supply information and if I don't I will be disciplined. I am being bullied by a mafia-like organisation."
He insists his CPD is fully up to date and is inspected by an external compliance team, the FSA and an in-house inspector.
He adds he is now seriously considering quitting the organisation, which means he will be stripped of the 'CertPFS' title after his name.
"I pay a membership fee each year to be part of the CII but I think I will lapse it in August," he says. "If I resign I won't be able to use the title I have earned from gaining my qualifications."
A spokesman from the CII says members are obligated to supply CPD records as part of their "commitment to learn".
"The nature of our job as a body is to maintain high standards of professionalism and ensure our 90,000 members continue to learn, develop and undertake CPD. This is part of our constitution.
"We don't want to throw members out and we will give the adviser in question time to provide the evidence. But if he fails to do so, the final sanction will be to cancel his membership."
The CII audits one in 10 of its 90,000 members, picked at random, each year.
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