process. So we accept that there are always improvements that could be made in that regard. I would say in relation to this particular case that if if it had have been – scored, this adviser would have received a D, the result of that would have been to bring forward his next audit instead of six months’ time, it would have been three months’ time. But it would not, in any event, have resulted in in his termination. – What it would have done is brought forward the next audit. But in terms of your overall question, yes, that that is one of the issues that we’re looking at, in terms of – the efficacy of our of our audit process. – you?And we’re doing a lot of work around that as a result of Report 515. Yes, you. MS ORR: Ms Britt, I want to turn to the third adviser that you deal with in your statement. That’s Mr Adam Palmer?Yes. He became an authorised representative of Genesys Wealth advisers in 2013?Yes. And Mr Palmer was interviewed by Genesys with a view to becoming an authorised representative in 2012? Perhaps I can show you a document ?Yes, sorry. to assist you in ?Could you just yes. – answering that question, Ms Britt?Thank you. Which is AMP.6000.0053.0051. Have you seen this document before, Ms Britt?I’m sorry, yes, I think I have, yes. It’s a form completed by a Genesys employee. We see his name at the bottom, Mr Hillis?Yes. It seems to have been completed based on an interview by Mr Hillis of Mr Palmer; is that right?Yes. Do you see the reference to the: I have interviewed the adviser.? ?I do, yes. Yes, I do. And we see at the top, if we could pan back out to the top of the page, that this is a questionnaire that forms part of the FAN. What is FAN?I believe FAN is Financial Advice Network. Continuing:
process. So we accept that there are always improvements that could be made in that regard. I would say in relation to this particular case that if – if it had have been scored, this adviser would have received a D, the result of that would have been to bring forward his next audit instead of six months’ time, it would have been three months’ time. But it would not, in any event, have resulted in – in his termination. What it would have done is brought forward the next audit. But in terms of your overall question, yes, that – that is one of the issues that we’re looking at, in terms of the efficacy of our – of our audit process. you?And we’re doing a lot of work around that as a result of Report 515. Yes, you. MS ORR: Ms Britt, I want to turn to the third adviser that you deal with in your statement. That’s Mr Adam Palmer?Yes. He became an authorised representative of Genesys Wealth advisers in 2013?Yes. And Mr Palmer was interviewed by Genesys with a view to becoming an authorised representative in 2012? Perhaps I can show you a document ?Yes, sorry. to assist you in ?Could you just – yes. answering that question, Ms Britt?Thank you. Which is AMP.6000.0053.0051. Have you seen this document before, Ms Britt?I’m sorry, yes, I think I have, yes. It’s a form completed by a Genesys employee. We see his name at the bottom, Mr Hillis?Yes. It seems to have been completed based on an interview by Mr Hillis of Mr Palmer; is that right?Yes. Do you see the reference to the: I have interviewed the adviser.? ?I do, yes. Yes, I do. And we see at the top, if we could pan back out to the top of the page, that this is a questionnaire that forms part of the FAN. What is FAN?I believe FAN is Financial Advice Network. Continuing: