Moore case closed
The Financial Planning Association (FPA) has advised that its investigation into the activities of Tasmanian-based adviser Brendan Moore has been wrapped up, with its disciplinary committee imposing only the minimum sanction.
In April 2005, Moore became the first adviser to be singled out by the Australian Securities and Investments Commission’s super switching surveillance campaign after the regulator alleged that he had failed to give four clients Statements of Advice when he had helped them transfer money between superannuation funds.
Following the Hobart Magistrates Court’s decision that Moore’s actions did not warrant a conviction but rather a good behaviour surety of $1,000 for 12 months, the FPA disciplinary committee concluded that the adviser’s reputation had suffered enough and limited its sanction to a letter of admonishment.
In other FPA news, Deen Sanders, the general manager of the Financial Services Education Agency Australia, has been appointed as the association’s new general manager of professional standards, Certified Financial Planner (CFP) certification and education.
His role will be to ensure that the professional entry requirements, ongoing monitoring and discipline are aligned with professional conduct and CFP certification.
Among Sanders’ areas of special expertise are compliance and professional strategy, education systems, executive management and leadership, and research and policy development.
Kerry Curtin will continue as the senior manager responsible for certification and education, but will report to Sanders, who commences his appointment at the FPA on December 11.
Recommended for you
Professional services group AZ NGA has made its first acquisition since announcing a $240 million strategic partnership with US manager Oaktree Capital Management in September.
As Insignia Financial looks to bolster its two financial advice businesses, Shadforth and Bridges, CEO Scott Hartley describes to Money Management how the firm will achieve these strategic growth plans.
Centrepoint Alliance says it is “just getting started” as it looks to drive growth via expanding all three streams of advisers within the business.
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year.
