Professional bodies to share misconduct information

Two professional bodies have announced an agreement to share information around adviser misconduct in the industry.

In a statement, the TPB said it had entered into a memorandum of understanding (MOU) with the FPA to share information across the two bodies regarding adviser misconduct, as well as industry data trends and continuing professional education.

TPB chair Ian Klug said the MOU would facilitate information exchange about matters of mutual interest between the two bodies.

"This is our first finalised MOU with a recognised professional association, but we expect more to come as we continue to work closely with other associations to develop similar agreements," Mr Klug said.

"The purpose of this agreement and the others that will follow, is to make it clear that both organisations are committed to working collaboratively for the betterment of the tax profession."

FPA chief executive Dante De Gori said the agreement was a testament to the association's close relationship with the TPB.

Advertisement
Advertisement

"The FPA has built a strong and close working relationship with the TPB over the past eight years as tax financial advisers have integrated into the TPB and we have seen the benefits of a regulator whose primary focus is on the relationship between a professional and their client," Mr De Gori said.

"The FPA has demonstrated a commitment to enforcing and holding members accountable to professional codes of ethics for over 25 years and we welcome the opportunity to work more closely with the TPB on encouraging professional behaviour for the protection of consumers."

Professional bodies to share misconduct information
Professional bodies to share misconduct information
ifa logo

Subscribe to the ifa bulletin

Receive daily online news,analysis, reports and business strategies
By signing up you agree to our Terms of Use and Privacy Policy

from the web

Website Notifications

Get notifications in real time and stay up to date with content that matters to you.