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Frequently Asked Questions about the Code of Ethics and Standards of Professional Conduct Complaint Process

Complaints may be submitted by IIUSA members, non-member practitioners within the EB-5 Regional Center industry, and the public at large. No, you do not have to be a member of IIUSA to submit a complaint.
No, a complaint may be submitted concerning an alleged violation of the Code of Ethics and Standards of Professional Conduct, whether or not the alleged offender is a member of IIUSA.

Alleged violations of the Code of Ethics and Standards of Professional Conduct should be submitted.

Such alleged violations include allegations related to:

  • failure to comply with the law;
  • failure to exercise independence and objectivity;
  • knowingly making misrepresentations;
  • failure to exercise prudence and care;
  • failures related to fair dealing;
  • engaging in unfair, inaccurate, or incomplete EB-5 performance presentations;
  • failure to exercise diligence and reasonable bias if engaged in EB-5 investment advising;
  • failure to disclose conflicts; and
  • failure to promote EB-5 Program integrity.

No. Confidentiality is a vital aspect of the complaint process. Prior to the enforcement of sanctions by the IIUSA Board of Directors, all proceedings for alleged violations of the Code of Ethics and Standards of Professional Conduct will be kept confidential within IIUSA unless:

  • the complainant waives confidentiality; the proceeding is based on allegations that include either the conviction of a crime or discipline by a government agency;
  • the allegations are generally known to the public; there is a need to notify another party in order to protect the public or the administration of justice; or
  • they are pursuant to subpoena, court order, etc., provided IIUSA’s outside counsel confirms the material is required to be disclosed.
The complaint must include the name, position, address, telephone number, and signature of the author of the complaint and a statement of the Code of Ethics and Standards of Professional Conduct sections alleged to have been violated. Supplemental documents are encouraged.
The Executive Director of IIUSA, in consultation with legal counsel, will determine if the complaint will be investigated or rejected within 30 days of its receipt.
A complaint could be rejected if it does not specifically allege a violation of the Code of Ethics and Standards of Professional Conduct or if it does not contain sufficient and reliable information.
If the Executive Director, in consultation with outside counsel, determines there is merit, the complaint will be evaluated by an appointed ad hoc subcommittee of disinterested members of the Compliance Committee. The ad hoc subcommittee will vote and determine by a simple majority whether the complaint should be further investigated.

The Executive Director of IIUSA, in consultation with outside counsel, will appoint an investigation and hearing panel composed of three disinterested members of IIUSA that are either members of the Compliance Committee and/or disinterested members of the Board of Directors.

The hearing panel will investigate the allegations in the complaint via: the submission of written queries to parties to the complaint; interviews of persons with knowledge of matters alleged in the complaint; the conduct of hearings into allegations contained in the complaint; and consultation with outside and disinterested experts.

The hearing panel will then submit to the Board of Directors any findings, conclusions, and recommendations together with the record of any hearing that has occurred in connection with the
complaint

If the ad hoc subcommittee determines that a complaint warrants an investigation, the Compliance Committee will provide the alleged offender with copies of IIUSA’s Code of Ethics and Standards of Professional Conduct, Enforcement Procedures, and written notification stating that an investigation is to be conducted.
The hearing panel may recommend to the Board of Directors that: the matter be dismissed or the Board of Directors impose a sanction or a particular sanction, if one is recommended (if the alleged offender is a member of IIUSA). The Board of Directors will then have discretion to either dismiss the matter or impose a sanction (if applicable).
The Board of Directors may impose reprimand, censure, probation (with terms), suspension, or permanent revocation of IIUSA membership.

Yes. A petition to lift sanctions may be submitted. The petition must specify the manner in which the alleged offender has fully complied with the terms and conditions of any prior sanction and has not engaged in any other misconduct since imposition of the sanction. Or, if not, why there is good and sufficient reason to lift the sanctions.