Brett Straun Purchase

Member's name: Mr Brett Straun Purchase
Date of Hearing: 24 November 2020
Division: Victoria
Tribunal: Disciplinary Tribunal

On 24 November 2020 the Disciplinary Tribunal found that Mr Brett Purchase breached CPA Australia's 28 April 2014 Constitution:

1. Article 39(a)(ii)C in that he “failed to observe a proper standard of care, skill or competence” in relation his dealings with a client and their investment.
2. Article 39(a)(ii)A in that he “breached this Constitution (or the constitution of the company in force immediately before the Amending Date), By-Laws, Code of Professional Conduct or the Applicable Regulations” by promoting a share subscription to his clients contrary to the Code of Professional Conduct.

Mr Purchase attended the Disciplinary Tribunal Hearing and denied the Complaints.

Penalty and costs

The Disciplinary Tribunal found the Complaints sustained and imposed the following penalties for:

• Complaints 1
  • forfeiture of membership
  • a fine of $1500
• Complaint 2
  • forfeiture of membership
  • a fine of $1500

The conditions for readmission imposed by the Disciplinary Tribunal are:

• Mr Purchase is not eligible to apply for readmission until 24 November 2021
• Prior to any application for re-admission Mr Purchase must successfully complete the Ethics and Governance segment of the CPA Program.

The Disciplinary Tribunal imposed a contribution to costs in the amount of $2779.40.

Mr Purchase appealed the Determination of the Disciplinary Tribunal and the Appeals Tribunal heard the matter on 28 April 2021.