The FPA has launched an anonymous reporting policy designed, in its own words, to ‘dob-in’ the dodgy.
Called ‘FPA Confidential’, this online facility is intended to provide an opportunity for both advisers and members of the public to notify the Association of possible professional misconduct, whilst remaining anonymous.
The FPA admits that one of the shortcomings of its existing complaints systems is that ‘aggrieved’ clients are not able to warn it in time to prevent the professional misconduct from occurring. By the time a client lodges their complaint, the FPA says the time for taking preventative action has already passed and the damage is done.
As well as the issue of timeliness, the FPA also notes that consumers may be hesitant to personally identify or associate themselves with complaints about potential misconduct, meaning some reports may never be made.
FPA Confidential addresses these issues of timeliness and confidentiality in its attempt to develop a new avenue for those who may not otherwise have reported their case, or reported it too late.
FPA CEO, Jo-Anne Bloch said FPA Confidential was developed in direct response to the collapse of Storm Financial and the need for vital information to allow the FPA to take action.
“Unfortunately, in the case of Storm Financial, the FPA did not receive any information from concerned consumers or members until it was too late,” said Ms Bloch.
“People who are unwilling to be identified tend to stay silent
“People who are unwilling to be identified tend to stay silent so the opportunity to offer a safe and independently managed reporting process will be welcome.
FPA Confidential will be linked directly from both the FPA and its “Good Advice” websites to ensure access to both industry and consumers.
Click here for a copy of the FPA Confidential (Anonymous Reporting) Program.
