Disgraced Commonwealth Bank financial planner Ricky Gillespie given conviction on appeal

The corporate watchdog has won an appeal to have a conviction recorded against a former CBA planner banned for forgery.

The Commonwealth DPP argued that not recording a conviction against Gillespie was ‘manifestly inadequate’.

The Australian Securities & Investments Commission has won an appeal to have the forgery conviction of former senior Commonwealth Bank financial planner recorded.

Ricky David Gillespie was fined $3,000 in December last year with no conviction recorded, after he pleaded guilty to a rolled-up charge of forgery.

In 2012, ASIC permanently banned Mr Gillespie from providing any financial services after he was found to have forged client signatures, created false file notes and charged excessive fees.

The decision comes as part of ASIC’s Wealth Management Project, which is focusing on the conduct of AMP, ANZ, Commonwealth Bank, NAB, Macquarie and Westpac.

The Commonwealth Director of Public Prosecutions filed a notice of appeal against the sentence after Mr Gillespie was convicted, saying that the decision to not record the conviction was “manifestly inadequate”.

On appeal, heard in the Brisbane District Court, Judge Rosengren ordered that Mr Gillespie’s conviction be recorded, given that it was an offence of dishonesty committed by a person occupying a position of trust, and that the documents forged were protective in nature.

She also noted that when he was confronted by CBA staff, Mr Gillespie denied the acts of forgery and continued doing so until April 2009.