Wickham Securities chairman cops ban
The chairman of collapsed lender Wickham Securities, Bradley Thomas Sherwin, has been banned from the financial services industry for two years and seven months following his bankruptcy in May.
Sherwin was the director of eight companies which formed a part of a group of companies known as the Sherwin Group which collapsed in early 2013.
These included Wickham, Sherwin Financial Planners and DIY Superannuation Services.
Sherwin’s banning spans the period remaining on his bankruptcy unless his trustee, Official Trustees, extends this period.
According to the Australian Securities and Investments Commission (ASIC), Sherwin had an opportunity to make submissions as to why he should not be banned prior to the regulator’s decision but did not do so.
He has the right to appeal to the Administrative Appeals Tribunal for a review of the decision.
The investigation into Sherwin and the collapse of Wickham and related entities is continuing.
AUTHOR
Staff Writer
Recommended for you
The popularity of ETFs, which are approaching $200 billion in Australia, is a potential threat to the advice landscape if consumers opt to invest directly, according to this senior partner.
A former AMP financial adviser has urged advisers in the BOLR class action against AMP to object to the “unfair and unreasonable” $100 million settlement sum as the objection deadline approaches on 22 May.
Two Victoria-based financial advice practices have merged and rebranded as Forbes Fava Saville Financial Planning, as the firm realises the benefits of added scale.
The Financial Services and Credit Panel has made its latest ruling over a case involving an incorrect Statement of Advice.
