FPA CEO defends disciplinary processes
Financial Planning Association (FPA) chief executive, Dante de Gori has been interrogated at the Royal Commission about why the FPA chose to pursue “summary disposal” of a complaint against high profile planner, Sam Henderson, rather than the disciplinary proceedings recommended by the original investigating officer.
Appearing before the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, De Gori acknowledged that the original investigating officer, Mark Murphy had left the organisation in December, last year.
The FPA chief executive said he could not specifically say why it had been decided, following Murphy’s departure, to deal with the Henderson matter via “summary disposal”.
Earlier De Gori said he did not agree that Henderson corresponding with either Murphy or the FPA’s head of professionalism, John Bacon, could be seen as giving rise to negative perceptions, especially if such discussions or correspondence went to the explanation of processes.
He also explained that just because Henderson had resigned from the FPA did not mean he would not be subject to the organisation’s disciplinary processes, stating that once such processes had been initiated, “a member remains a member irrespective of whether they pay their dues”.
De Gori had earlier said that he took pride in the fact that the FPA had rigorous processes around member discipline. “It is a difficult process and it is meant to be confronting,” he said.
However, De Gori acknowledged that the FPA’s ultimate sanction was expulsion from the organisation – something which would not stop a financial planner from practicing.
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