Former Commonweath Financial Planning authorised representative Ricky Gillespie has been fined $3,000 with no conviction recorded in the Brisbane Magistrates Court.
Mr Gillespie's sentencing comes after he pleaded guilty to a rolled-up charge of forging 33 client documents.
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.
When financial failures occur and accountability can’t be pinpointed clearly, often it is the adviser that gets ...
When dealing with high-risk investment portfolios and platforms, it is important advisers manage expectations even when ...
Orbis Investments has added a new marketing head to extend its reach to advised retail investors as part of its “next ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin