A former financial planner who is alleged to have operated without an Australian Financial Services Licence (AFSL) has appeared in the Hobart Magistrates Court on charges preferred by the Australian Securities and Investments Commission.
The man, John Vafiadis, is alleged to have provided product advice and dealt in financial products without either holding an AFSL or being an authorised representative between January 2006 and February 2009.
The court was told it would be alleged that Vafiadis put in place commission arrangements for his services and throughout the period did not have an AFSL or an authorisation to carry on a financial services business.
He said that he had previously been an authorised representative of a financial services licensee from 1 January, 2004 until 22 November, 2005.
