The Financial Planning Association of Australia The Financial Planning Association of Australia

FPA bans member for professional standards breach


The 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://fpa.com.au/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

 

CRC 2012_1

 

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

 

CRC 2009_2

 

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