The Australian Securities and Investments Commission (ASIC) has banned former financial adviser and GuardianFP authorised representative, Robert Gunner from providing financial services for seven years.
He was employed at GuardianFP from February 2013 to May 2016.
ASIC found that between January 2014 and February 2016, Gunner failed to comply with financial services laws by:
- Assisting clients to access their superannuation by advising them to acquire multiple insurance policies through their superannuation fund;
- Paid commissions to the client less his own expenses upon receiving commission from the issuer of the insurance; and
- In doing so, Gunner created insurance application forms, client file notes, client profiles, and statements of advice that contained false information.
ASIC deputy chair, Peter Kell said: “ASIC is determined to ban financial advisers who deliberately breach the law from the financial services industry”.
Gunner has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
