Former Commonweath Financial Planning authorised representative Ricky Gillespie has been fined $3,000 with no conviction recorded in the Brisbane Magistrates Court.
Mr Gillespie's sentencing comes after he pleaded guilty to a rolled-up charge of forging 33 client documents.
The bank has already paid out approximately $2.2 million in compensation to former clients of Mr Gillespie following an internal review of advice provided.
The Gold Coast-based former adviser was one of a number of Commonwealth FP authorised representatives at the centre of the media storm and parliamentary inquiry into the bank's financial advice operations.
In 2012, Mr Gillespie was permanently banned by ASIC.
Among the most significant issues within its regulatory remit, ASIC has highlighted unsuitable superannuation advice ...
The risk of a PY adviser leaving once they complete their training is a considerable roadblock for many advice firms, ...
Despite being heralded as the cure for advice inaccessibility, industry consultants say low take-up of digital advice ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin