REIC will release to the public and to REIC Members its decisions and reasons where an REIC Member has been ordered suspended.
Richard Bernardi - Professional Standards Committee Decision
On February 18th, 2014, the Real Estate Institute of Canada (REIC) Professional Standards Committee reviewed the case against Richard Bernardi, CPM®. After further research into issues raised by the complainant, a number of breaches of both the REIC and IREM Code of Ethics were determined to have been violated. The Committee approved a motion to suspend the use of his designation for two years, which has been upheld by the Professional Standards Hearing Panel, which met on May 21, 2014. During this time, Mr. Bernardi will not be allowed the use of the CPM® designation, and should proof of unauthorized use be found, termination will be immediate. In the interim, he must successfuly retake the REIC2600 - Ethics in Business Practice course, as well as the FIN402 - Investment Real Estate: Financial Tools course. In order to have the suspension lifted, he must also be a member in good standing with all of his dues paid and allow a researcher, appointed by the Committee, to perform a full review of his processes which will be assessed by the Committee.
The suspension end date will be March 1st, 2016, at which time the Committee will have reviewed the case to ensure that Mr. Bernardi is eligible to reinstate the use of his designation.
- Update -
Mr. Bernardi did not complete the courses or the researcher review, as set out by the Professional Standards Committee, prior to the suspension end date. His membership was terminated as of September 30th, 2016 and will not be able to reinstate the use of the CPM® designation.