The Financial Planning Association’s (FPA’s) independent disciplinary body, the Conduct Review Commission has imposed a $50,000 fine plus costs on former member, Sam Henderson, for breaches of the FPA’s code of conduct.
The FPA acknowledged that Henderson, who appeared before the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry is no longer a member of the organisation.
Henderson was found guilty of nine breaches of the code.
Commenting on the outcome, FPA chief executive, Dante De Gori said the FPA Code required members to put their client’s interests first and the CRC had ruled that Sam Henderson did not place his client’s interest first or provide professional service objectively, and imposed sanctions accordingly.
