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Ex-CBA planner admits forgery

Former Commonwealth Bank planner Ricky David Gillespie, previously banned from providing financial services, has pleaded guilty to forgery.

The Australian Securities and Investments Commission (ASIC) alleged Gillespie forged clients’ signatures on documents when he was a senior financial planner at the Broadbeach branch in Queensland between January 1 2007 and June 13 2009.

The signatures appeared on financial product applications and internal Commonwealth Financial Planning Limited (CFPL) documents, and their purpose was to meet audit requirements, ASIC says.

Gillespie pleaded guilty at Southport Magistrates Court to one “rolled-up” charge of forgery on 33 documents, and will appear again for sentencing on December 12.

ASIC permanently banned Gillespie in 2012 after an investigation found he failed to comply with financial services laws, forged signatures, created false file notes, provided advice that was not appropriate and charged excessive fees.

The regulator says he also engaged in misleading and deceptive conduct, issuing financial product information via a marketing letter that contained false representations.

ASIC has previously taken action against other former CFPL financial advisers.

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