Richard Philip Lambe CPA

Member’s name: Richard Philip Lambe CPA
Date of Hearing: 29 October 2019
Division: Western Australia
Tribunal: Disciplinary Tribunal

On 29 October 2019 the Disciplinary Tribunal found the member breached Article 39(a)(ii)(F) of the 22 May 2018 Constitution, in that Mr Lambe has:

1. “been the subject of an adverse finding that has not been overturned on appeal in relation to the Member’s conduct, competence or recognition by any Court, professional body, statutory or other regulatory authority in any jurisdiction”, in respect of a decision of the Australian Securities and Investment Commission (ASIC) dated 24 June 2019, that he was not actively engaged in supervising the conduct of appointed representatives and likely to contravene a financial services law. ASIC banned Mr Lambe for three (3) years from providing any financial services.

The member attended the Disciplinary Tribunal Hearing in person and admitted the Complaint.

Penalty and costs

The Disciplinary Tribunal found the Complaint sustained and imposed the following penalties:

• a severe reprimand
• a fine of $3000.

The member was ordered to pay CPA Australia’s costs of $2660.