ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
Neville Allan Kendrick was permanently banned from 22 April from providing any financial services, performing any function involved in the carrying on of a financial services business, and controlling an entity that carries on a financial services business.
He has not been licensed or authorised to provide financial services under an Australian Financial Services Licence since 30 September 2022.
ASIC found that Kendrick provided financial services when he was not licensed or authorised, made materially misleading statements to induce investors, and acted dishonestly by making false statements.
The regulator said it also had reason to believe he lacks the fitness and propriety and the training and competence required to participate in the Australian financial services industry.
Kendrick was an authorised representative of Great Southern Securities Pty Limited between 8 March 2004 and 21 October 2005, Professional Investment Services Pty Ltd between 22 July 2009 and 7 April 2010, Jigsaw Support Services Pty Limited between 9 April 2010 and 2 August 2012, Charter Financial Planning Limited between 2 August 2012 and 7 August 2015, and On Q Securities Pty Ltd from 8 August 2015 and 30 September 2022.
The banning is recorded on the ASIC banned and disqualified register.
