Former Commonweath Financial Planning authorised representative Ricky Gillespie has been fined $3,000 with no conviction recorded in the Brisbane Magistrates Court.
The bank has already paid out approximately $2.2 million in compensation to former clients of Mr Gillespie following an internal review of advice provided.
The Gold Coast-based former adviser was one of a number of Commonwealth FP authorised representatives at the centre of the media storm and parliamentary inquiry into the bank's financial advice operations.
In 2012, Mr Gillespie was permanently banned by ASIC.
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