Bruce Stuart Davis

Member’s name: Bruce Stuart Davis
Date of Hearing: 28 July 2026
Division: South Australia
Tribunal: One Person Tribunal 

On 28 July 2026 the One Person Tribunal found Mr Bruce Davis breached CPA Australia’s 11 May 2022 Constitution (“the Constitution”), Article 36(a) when he:

Complaint 1
“committed, participated in or been involved with an Adverse Event” as defined in Article 76(h) of the Constitution in that he “became the subject of a final Adverse Finding 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 an Australian Securities and Investments Commission Banning Order for seven years dated 29 November 2024.

Background
In 29 November 2024, the Australian Securities and Investment Commission (ASIC) made a Banning Order under sections 920A & B of the Corporations Action 2001 that prohibited Mr Davis from providing any financial service, controlling an entity that carries on a financial services business, and performing any function involved in the carrying on of a financial services business (the Banning Order).  Mr Davis appealed the Banning Order to the Administrative Review Tribunal (the ART).  The Banning Order was subsequently varied by way of consent order dated 24 November 2025 made by the ART to provide for the definition of “financial service” (the variation).

ASIC issued a media release on 6 December 2024 regarding the Banning Order, that came to the attention of CPA Australia.  Mr Davis did not self-disclose the ASIC investigation into his conduct, the issuing of an ASIC Notice of Hearing dated 15 July 2024, the Banning Order, his ART appeal of the Banning Order or the variation. 

On 6 December 2024, a Complaint was initiated and was investigated. On 1 June 2026, the General Manager Professional Conduct determined that Mr Davis had a case to answer and referred the Complaint to the Disciplinary Tribunal for Determination. 

Decision
The One Person Tribunal’s Determination was made by Written Resolution, in accordance with By-Law 5.6(n)(i), and is based on the Member’s admission of the complaint and consent to a Determination including the imposition of any penalty.

The One Person Tribunal accepted the Member’s consent to the Determination and the imposition of the penalty proposed by CPA Australia in accordance with By-Law 5.6(a). 

The One Person Tribunal found the Complaint sustained and imposed the following penalty:

Penalty and Conditions
The One Person Tribunal considered the submissions made by both the member and CPA Australia, including the member’s mitigating circumstances and co-operation throughout the process, and imposed the following penalty:

Complaint 1
Suspension from membership for four years, commencing on 29 November 2024. 

Lowering of the Member’s Membership Status from FCPA to CPA, not eligible to obtain FCPA status in the future. 

Costs
The Member was ordered to pay CPA Australia’s costs of $5,153.