Ban on former AMP adviser confirmed
A former AMP adviser from North-West Sydney has been permanently banned from providing financial advice after Australian Securities and Investments Commission (ASIC) surveillance found he failed to act in clients’ best interests.
Rommel Panganiban of Bella Vista was found to have breached his obligations to act in the best interests of his clients or have a reasonable basis for advice. ASIC also found Panganiban has prioritised personal interests over client relations.
The Administrative Appeals Tribunal (AAT) has supported ASIC’s claims and affirmed Panganiban was not of good character.
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