Lawyers representing an ACCA council member found guilty of professional misconduct this week accused the association of unfairly singling him out for harsh treatment, despite the fact he escaped suspension.
The claims were made on behalf of Robert Jackson who, along with three other partners in his Manchester-based firm, Thomson Morely Jackson, was fined a total of #5,000 with #20,000 costs by an ACCA disciplinary committee for backdating Norwich Union share applications to get free shares.
Barrister Monica Carss-Frisk argued: ‘The investigation has been taken particularly seriously by ACCA.’ She said the association appeared to want to make an example of Jackson.
ACCA refused to comment on the case, but officials are likely to be disappointed a harsher penalty was not imposed. The case, along with several other less serious abuses, was referred to ACCA by the Personal Investments Authority.
One ACCA council member said: ‘I would have questioned ACCA’s decision to fine had the partners not been out for their own benefit. If you stand for a public body and abuse a position of authority, you are putting yourself in the firing line.’
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