In what might be an unprecedented move, at least it is for the Rabbanut, they have decided to revoke the semicha of one of its rabbis, after he was convicted of a crime.

"Rav" (in quotes because the title has now been revoked) Yehuda Rozilio of Moshav Brosh, was recently convicted of having stolen Torah scrolls from the moshav shul. At the same time, they have called in another Rabbi for a disciplinary hearing after he was convicted of fraud with marriage licenses and ketubas.

Rav Metzger and the Rabbanut Council came to the decision that it is inappropriate for someone convicted of a crime or serious transgression to be able to continue using his title of Rav.

This is only the beginning, and the Rabbanut says from now on, this will become standard policy. Any rav convicted, will have his semicha and title revoked.
(source: Kikar)

I have heard that some yeshivas in America (I heard it specifically about Ner Israel of Baltimore, but have no firsthand knowledge) condition their semicha on the adherence to Torah and Mitzvos, and if one acts inappropriately they reserve the right to revoke it. I have never heard of such a condition being put into use and a semicha revoked, though it surely could have happened before. But it is a first for the Rabbanut. The rabbis are now on warning...