NAB today welcomed ASIC’s action against former NAB Financial Planning adviser, Gerard McCormack.

Executive General Manager NAB Wealth Advice, Greg Miller, said McCormack left NAB in September 2013 after concerns around misconduct were raised.

“Advisers must follow all processes and procedures at all times to make sure they are doing the right thing by our customers, but this wasn’t the case for Mr McCormack,” Mr Miller said.

“We want to strengthen our business and ensure we are always open, transparent and take issues impacting customers seriously.”

In February 2015, NAB announced a series of steps we are taking to restore customer trust and confidence in the financial planning industry and our advice businesses. Further information about NAB’s Customer Response Initiative is available via here.