ICMA's disciplinary proceedings deal with disciplinary matters resulting from misconduct on the part of an ICMA member. Misconduct is defined as a breach or contravention of ICMA's statutes, by-laws or rules or any other conduct on the part of a member which causes substantial damage to the interests of ICMA.

Civil disputes involving claims for damages or other civil claims raised against an ICMA member are dealt with under the conciliation and arbitration proceedings.

ICMA's executive committee initiates disciplinary proceedings against a member if there is evidence of misconduct and he oversees the proceedings through its various stages. All hearings take place in Zurich and proceedings are conducted in English unless otherwise agreed.

Charges of misconduct are dealt with either under the summary procedure conducted by the executive committee, or by a disciplinary tribunal of three persons. One person on this tribunal is appointed from amongst the members of ICMA's board by the chairman of the market practices committee, and the other two by the chairman of the committee of regional representatives from ICMA's disciplinary panel. This panel is currently comprised of 24 persons, with two nominated by each of the chairmen of the Association's twelve regional committees.

The disciplinary tribunal can impose the following sanctions against a member in respect of which a charge of misconduct has been upheld:

• expulsion from membership
• suspension of membership
• fines
• reprimands

or require the member to take remedial steps or give an undertaking with regard to future conduct.

The disciplinary tribunal may order the payment of legal costs incurred as a result of the proceedings. The tribunal is also entitled to publish its decisions in such manner and form as it sees fit.

A member aggrieved by a decision of the disciplinary tribunal has the right to make an appeal to an appeals tribunal consisting of five persons appointed by the chairman of the committee of regional representatives.