MenuThe Financial Planning Association of Australia (FPA) has expelled a member for cheating during his final attempt at the CERTIFIED FINANCIAL PLANNER® (CFP®) certification exam.
The Conduct Review Commission (CRC) found Shylesh Sriranjan of Melbourne guilty of breaching the FPA’s Code of Ethics and Professional Practice by using information obtained from another exam candidate during a CFP® certification exam, by means of swapping exam papers. The determination was made on 21 December 2016.
The CRC, an independent body put in place to ensure members are held accountable for misconduct, has responsibility under the FPA Constitution and the FPA Disciplinary Regulation for determining disciplinary actions brought by the FPA against members.
Dante De Gori CFP®, CEO of the FPA, said the CRC plays a vital role in regulating the conduct of FPA members and upholding the highest ethical standards within the financial planning profession.
“Our world class Code of Professional Practice is a key component of our Professional Framework that fosters high professional standards and consumer protection. Any breach of the FPA Code is taken very seriously as it undermines the reputation of all members.
“The CRC has deemed this expulsion to be appropriate for the protection of the profession, particularly its public standing and the confidence of the public in its members. Expulsion from FPA membership includes loss of access to a number of benefits.”
The CRC is also currently determining sanctions relating to Darren Tindall of Orange NSW, who was found to have engaged in misleading, deceptive, dishonest and fraudulent conduct to obtain life insurance for a client who was otherwise unlikely to obtain it; and committed a serious breach of privacy involving a number of client records.
An announcement on the CRC’s determination relating to Mr Tindall’s professional standards breach will be made shortly.
For more information on professional accountability and the FPA’s disciplinary process visit https://faaaoldsite.wpengine.com/professionalism/professional-accountability/
The table below refers to members who were sanctioned following a disciplinary panel hearing.
| Case number | Member Details | FPA Member ID | Effective Date | Member Category | Sanction |
| * For CRC 2016_1 and CRC 2016_2, each Member has until the Effective Date to seek a review of the Conduct Review Commission Panel finding. | |||||
| CRC_2016_2* | Darren Tindall | 341771 | 11.01.2017 | AFP | To be considered after 11.01.2017 |
| CRC_2016_1* | Shylesh Sriranjan | 343480 | 09.01.2017 | AFP | Expelled |
| CRC 2015_1 | Robert Tomasello | 13100 | 31.07.2015 | CFP | Expelled, costs of CRC hearing |
| CRC 2014_1 | Robert (Bob) Jones | 38582 | 21.10.2014 | CFP | Expelled, fined, costs |
| CRC 2013_1 | Blinded | Blinded | 04.01.2014 | CFP | Expelled, costs (Binding Deed) |
| CRC 2012_4 | Blinded | Blinded | 13.07.2012 | AFP | Professional education, costs, reprimanded |
| CRC 2012_3 | Yvette Daniel | 23185 | 06.07.2012 | CFP | Expelled, costs |
| CRC 2012_2 | John Schluter | 32097 | 06.07.2012 | AFP | Expelled, costs |
|
|
Blinded |
Blinded |
11.04.2012 |
CFP |
Professional education, costs, undertaking, suspension of designation, identity not published |
| CRC 2011_3 | Paul Florence | 17962 | 23.11.2011 | AFP | Expelled, costs |
| CRC 2011_2 | Emmanuel Cassimatis | 11649 | 26.07.2011 | General | Appeal dismissed |
| CRC 2010_1 | Emmanuel Cassimatis | 11649 | 20.10.2010 | General | Expelled, fined, costs |
| CRC 2011_1 | Gus Dalle Cort | 320817 | 28.01.2011 | CFP | Fined, expelled, publication |
| CRC 2009_3 | Blinded | Blinded | 12.10.2009 | Principal | Supervision, costs |
|
|
Blinded |
Blinded |
20.02.2009 |
CFP |
Reprimanded, suspension of designation, supervision, fined, identity not published |
| CRC 2009_2 | Blinded | Blinded | 20.02.2009 | Principal |
Reprimanded, fined, indentity not published |
| CRC 2009_1 | Blinded | Blinded | 13.03.2009 | Principal |
Expelled, fined, costs, identity not published |
