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Jeffrey Fall, IAMERS Ethics Chair and
Robert Kerwin, IAMERS General Counsel
(Preliminary Note: the content of this article represents the thoughts and expressions of Messrs. Fall and Kerwin
and is not representative of official IAMERS Policy or the views of the IAMERS Board.
For over 15 years the IAMERS Ethics Committee has functioned successfully for its members and the secondary
market. IAMERS has been touted by many to be a unique trade association in its ability to help self-police for
inappropriate conduct amongst IAMERS members. Recently a representative of the FDA has mentioned that the
IAMERS Ethics Code may be one of the reasons why the secondary market’s reputation has improved. Still, there is
from time to time a sense of confusion relative to when a particular issue is deemed to be a “violation of the IAMERS
Ethics Code” and when a particular issue is deemed to be purely a legitimately disputed activity for which the IAMERS
Ethics Committee ought not to take jurisdiction.
The IAMERS Ethics Code provides in essence that a complainant (whether they be a member or a nonmember) may
bring hearing requested for a violation of the IAMERS Ethics Code, if the act complained of against an IAMERS is an
“unethical act”. New members pledge to conduct their business so as to avoid unethical conduct with members or
clients. The Ethics Code provides in applicable part:
(A) To follow rules through and complete any agreement made verbally or otherwise to any IAMERS member,
prospect, or client. (B) Conclude the transaction once the member has agreed to either sell, acquire, or lease
equipment. (C) Honor any offer that has been accepted by a member and or any client as expeditiously as
possible after acceptance and always upon the terms of the contract. (D) Utilize only one name in any
transaction with a prospective client or member. It is considered extremely unethical to negotiate or bid
utilizing different or separate business, corporate or company names under one control, without full
disclosure. (E) Not to disparage other members by statements or innuendo to other members or clients. (F)
To respond to any complaint or violation filed with the ethics committee and participate in all processes and
procedures of committee with respect to that complaint.
No definition has existed for an “unethical act”. However, IAMERS is receiving more and more complaints which
may, upon investigation, be more properly categorized as s matters of “commercial” dispute rather than actual
IAMERS “ethics” violations. Given the above, we will be having a continued dialogue in the next few months as to
what ought to be the appropriate standard by which the IAMERS Ethics Committee takes jurisdiction of a complaint
and what ought to be a matter for the counts. The original IAMERS Bylaws and the IAMERS Ethics Code
contemplated the formation of a Professional Standards Committee to address concerns this type. Though
contemplated and much discussed the Committee was not formed and no formal standard was promulgated:
Section 15. Mandate of the Professional Standards Committee, of the IAMERS Ethics Code states (A) The
professional standards committee is charged with the ongoing process of establishing ethical standards for
the IAMERS members. This does not preclude the ethics committee from continuing to establish procedural
policies and standards. (B) The ethics committee is encouraged to advise the professional standards
committee of particular areas in which the ethics committee believes that substantive policy positions relating
to ethical standards should be established, broadened or modified.
IAMERS does not wish to devalue the IAMERS Ethics Code into a collection agency. At the same time one does not
wish for actual violations of the Ethics Code to go unaddressed. During the next few months in accordance with the
Professional Standards mandates, we welcome your thoughts concerning what is an Ethical Violation and what is a
commercial dispute.
Jeffrey Fall is the President of Platinum Medical and Chair of the IAMERS Ethics Committee.
Robert J. Kerwin is General Counsel to IAMERS and a Shareholder in the Boston firm of Tarlow, Breed, Hart & Rodgers, P.C.
Comments concerning this article may be respectively sent to JFsage@aol.com and rkerwin@tbhr-law.com.
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