Activity of IREM Ethics Boards at
2011 Leadership & Legislative Summit
The following took place at the IREM Leadership &
Legislative Summit this past April.
The Ethics Inquiry Board reviewed one new complaint
which alleged the Respondent changed the terms of a note
to give buyers of the partnership’s property preferential
position to the disadvantage of the limited partners. The
Complainant alleged the Respondent did not disclose
changed material terms to the limited partners before
proceeding with the transaction. The complaint will be
investigated to determine whether it should be forwarded
The Hearing and Discipline Board conducted two
hearings. The first involved a complaint heard previously by the Hearing Board in May 2010. The Respondent
appealed, and the complaint was considered by the
Appeal Board in October 2010. The Complainant was the
president of an HOA managed by the CPM Respondent’s
property management firm. In the original hearing, the
Complainant alleged the CPM Member’s firm failed to
provide accurate and auditable financial records, and that
the management company prepared its own invoices, adding unauthorized and undisclosed service fees.
The Hearing Board voted to terminate the membership
status of the CPM Member, who then filed an appeal.
Based on the information presented in October 2010, the
Appeal Board determined to send the complaint back to
the Hearing Board for their consideration.
The Respondent CPM attended the hearing and called
a witness. The Hearing Board considered additional
evidence, and the testimony of the Respondent and the
Respondent’s witness. The Board found the Respondent
not in violation of the Code.
DISCIPLINARY ACTION WAS TAKEN
FOR THE FOLLOWING MEMBERS AS A
RESULT OF HEARINGS IN ORLANDO
IN OCTOBER 2010. EACH WAS ALSO
ISSUED A PUBLISHED LETTER OF
CENSURE AND MUST SUCCESSFULLY
COMPLETE ETH800 BY DECEMBER 31,
2011, OR MEMBERSHIP STATUS WILL
Heather Summers, CPM, was suspended for three years
for violating Article 7, Conflict of Interest.
Jose Antonio Nicolas, CPM, was suspended for three
years for violations of the Pledge, Article 1 (Loyalty
to Client, Firm and/or Employer), Article 7 (Conflict
of Interest) and Article 9 (Duty to Former Clients and
Former Firms or Employers).
Kimberly Murray, CPM, was suspended for one year for
violations of the Pledge and Article 9 (Duty to Former
Clients and Former Firms or Employers).