Governance structures stifling whistleblowers, FPA says
Drawing out unethical behaviour within the planning industry hinges on frameworks to support whistleblowers, who are largely dispirited under current governance structures, the Financial Planning Association (FPA) says.
Under transparent structures, unethical behaviour or cultures could be spotted and dealt with "quickly and appropriately", according to the FPA's chief executive, Mark Rantall, but the existing system has a record of discouraging independent action.
"We realise that there is a need for real governance and for a complaint process that empowers consumers and planners alike," he said.
"Being just one person taking a stand can be daunting, but having a profession behind you — one that stands for ethical and professional behaviour — makes it easier to stand up for what is right."
Jeff Morris, the well-known whistleblower who exposed the unethical conduct of some of his colleagues at Commonwealth Bank-owned planning businesses, will be speaking at the FPA's Professional Congress in November.
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