Expulsion proves code enforcement says FPA
Financial Planning Association (FPA) chief executive, Dante De Gori has pointed to an expulsion imposed by his organisation's Conduct Review Commission (CRC) as proof that the FPA is prepared to back its code of conduct with action.
De Gori took to social media to point to the CRC expulsion as proof that the FPA was prepared to impose sanctions to enforce its code of conduct.
His comments reflect the reality of the Government's proposed new structure for the financial planning industry under which there will be an over-arching standards-setting body and professional associations such as the FPA and the Association of Financial Advisers (AFA) are required to ensure code compliance on the part of their members.
De Gori said the actions of the CRC were proof of why consumers should ensure their planner was a member of a professional body — because it had an enforceable code.
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