The FPA says its Conduct Review Commission (CRC) is determining sanctions relating to Darren Tindall of Orange, NSW, for “engaging in misleading, deceptive, dishonest and fraudulent conduct to obtain life insurance for a client who was otherwise unlikely to obtain it”.
It found Mr Tindall also committed a serious breach of privacy involving a number of client records, the association said in a statement.
The FPA also announced it expelled former NAB financial planner Shylesh Sriranjan, of Melbourne, for cheating on his Certified Financial Planner (CFP) exam.
Sister publication ifa asked FPA chief executive Dante De Gori whether the specific naming of expelled members via press release is a change in strategy for the FPA.
“No,” Mr De Gori replied by email, without elaborating further on the matter. He did confirm that ASIC was not involved in the investigations, but that they are conducted by the CRC.
Mr De Gori’s response comes despite the ifa team having never previously received a formal FPA press release naming individuals who had not also been subject to ASIC enforcement activity.
ASIC is yet to put out an official announcement regarding any enforcement activity relating to Mr Tindall.
Mr De Gori said any breach of its code is taken seriously as it undermines the reputation of all members.
“The CRC has deemed this expulsion to be appropriate for the protection of the profession, particularly its public standing and the confidence of the public in its members,” he said.
“Expulsion from FPA membership includes loss of access to a number of benefits.”
The FPA said an announcement on the CRC’s determination relating to Mr Tindall’s professional standards breach will be made shortly.
Perhaps it would be good if all the facts were known. Wasn’t Mr Tindall a new relatively adviser under the care and instruction of Peter Roan http://www.roanfinancialgroup.com? Mr Roan’s website seems to indicate a close association with the FPA. It would be interesting to know if he was the complainant and or gave evidence.
Refusing sponsorship from a tarnished organisation is what any professional organisation would do. True / False
The FPA should not be naming and shaming but passing on the information to ASIC to investigate appropriately. An FPA member losing membership, loses nothing.
What about sanctions for FPA leadership for engaging in dishonest conduct with the FSC over the LIF??
Or what about the FPA refusing sponsorship from CBA ??