While it's great to see someone who incorrectly claimed to be a financial adviser punished for doing so, it would be even better if regulators and media organisations who incorrectly and knowingly claim wrongdoers are financial advisers, were also held to account.

The broader damage to consumers caused by regulators and media organisations discrediting and undermining professional financial advice is far greater than the isolated actions of a few crooks. Regulators and media are significant contributors to consumers unnecessarily eschewing professional advice, and being disadvantaged by scams, duds, and poor DIY decisions as a result.