ASIC today announced that Thompson has been convicted and fined in the Melbourne Magistrates Court after pleading guilty to two charges of forging and submitting documents for financial gain.
In response to the sentencing, NAB executive general manager of wealth advice Greg Miller issued a statement welcoming the conviction.
“In March 2013, NAB terminated Mr Thompson’s employment after we discovered he had forged clients’ signatures in an attempt to increase his own remuneration at the expense of the NAB,” Mr Miller said.
“We expect our advisers to do the right thing at all times – by their customers and us as their employer, and we will always hold them to account.
“NAB subsequently reported Mr Thompson to ASIC, and fully supported the regulator’s investigations, and co-operated with the Commonwealth Director of Public Prosecutions.”
According to ASIC data, Thompson became an authorised representative of AMP Financial Planning after leaving the NAB network.
In 2016, Thompson was handed a seven-year ban from the corporate regulator.
If NAB don’t put him on the ASIC register how is AMP supposed to find out after their due diligence…shonky work from NAB is the issue here.
Usually the big banks just punish people by getting them to become members of the FPA and pay for their membership.. we need to watch this approach with caution.
The issue here is that he was terminated in 2013 for fraud but continued to work with another licensee for three years before ASIC acted. How is this possible ASIC? AMP also need to be fined for taking him on without proper due diligence.
Obviously a crook but no doubt his manager didn’t question a thing for some time while he was smashing his target… Would have fit in really well at AMP too.
Really? It says they terminated him. What else is there?
Cuz it was coming out in the media, hence the ‘lets get rid of him option in all AR agreements’