IFA continues name and shame regime; suspends member
Chief executive David Hutton said, in his latest newsletter, three "seemingly unrelated" complaints about Cant had been made to the IFA. Cant failed to respond to the complaints, which are series in nature and warrant investigation and possible action, and his membership to the association was put on interim suspension until he contacts the IFA.
Hutton said it was important to note that Cant has not been found guilty of any of the allegations, and that "the provision is to prevent delay in dealing with complaints."
"We wanted to make sure the public are aware" after Cant failed to respond within the IFA's timeframe, said president Lyn McMorran. "We can't afford to ignore it."
In May, the IFA named two advisers were named after they pleaded guilty to breaching the industry body's Code of ethics and professional conduct over investments in finance companies, and fined a combined $67,000 to cover the costs of the disciplinary procedures.
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