The FPA is close to reaching a verdict in its disciplinary action against Storm Financial founder Emmanuel Cassimatis.
FPA deputy chief executive and general manager for professionalism Deen Sanders said a determination in regards to association charges and a $20,000 fine against Cassimatis would be known soon.
"We would expect to have a result soon," Sanders said.
"The banning order and fine remains in place in the absence of a successful appeal, which is under consideration by the appeals panel of the conduct review commission."
In February, Cassimatis filed an appeal against the charges and a fine.
In October last year, the FPA ordered Cassimatis to pay $20,000 in fines and had his FPA membership cancelled.
The fine and expulsion were handed down after the FPA found him guilty of multiple breaches of its code of ethics and rules.
The association found Cassimatis guilty of four charges after lengthy investigations were conducted by its conduct review commission's disciplinary panel.
Cassimatis was not a certified financial planner or practitioner member of the FPA, but was a general member at the time of the complaint, the FPA said at the time.
Meanwhile, earlier this month, ASIC agreed to amend the statement of claim in its case against the Cassimatises.
In an update on its actions against Emanuel and Julie Cassimatis, the corporate regulator said the matter returned to court last month to hear the Cassimatises' application against ASIC.
"The proceeding returned to court for the hearing of an application, brought by the Cassimatises, to strike out all or part of ASIC's statement of claim, being the document that sets out ASIC claims against the Cassimatises in the proceeding," the regulator said.
"ASIC opposed the Cassimatises' application. However, [Justice Reeves] suggested that certain amendments should be made to parts of the statement of claim that were not the subject of the Cassimatises' application."
In response to the order, ASIC said amendments could be made to the statement of claim, a move it said would "accommodate both his Honour's suggestions and the majority of the objections raised by the Cassimatises in their application".
The proceeding was adjourned to a further directions hearing to be held on 1 August.
