Financial Planner in Forgery Charge

Australian Securities and Investments Commission

Australian Securities and Investments Commission

The seemingly overworked Australian financial regulator has been called into action again, this time bringing charges against a former Commonwealth Bank Financial Planner.

Following an investigation by the Australian Securities and Investments Commission, (ASIC), Ricky David Gillespie, 38, has appeared in court on one rolled-up charge alleging the forgery of 31 documents.

Gillespie provided advice as a former representative of the Commonwealth Bank of Australia's financial planning subsidiary, Commonwealth Financial Planning Limited (CFPL).

Lifetime Ban

Gillespie was permanently banned by ASIC from providing any financial services in 2012.

ASIC claims that between 1 January 2007 and 13 June 2009, Gillespie, while a Senior Financial Planner based at the Broadbeach Commonwealth Bank branch on the Gold Coast, forged the signatures of a number of the bank's clients to whom he was providing financial advice.

Forged Signatures

Gillespie is alleged to have forged the signatures of clients on documents including applications for financial products and a series of internal CFPL documents.  It is alleged that the purpose of the forgeries was to meet the requirements of the Commonwealth Bank's internal audit process.

The case was adjourned for further mention on 4 July 2016.

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