FPA's CRC fines Sam Henderson $50,000
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.
Recommended for you
Licensing regulation should prioritise consumer outcomes over institutional convenience, according to Assured Support, and the compliance firm has suggested an alternative framework to the “licensed and self-licensed” model.
The chair of the Platinum Capital listed investment company admits the vehicle “is at a crossroads” in its 31-year history, with both L1 Capital and Wilson Asset Management bidding to take over its investment management.
AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies.
With a large group of advisers expecting to exit before the 2026 education deadline, an industry expert shares how these practices can best prepare themselves for sale to compete in a “buyer’s market”.
