ASIC bans former NSW adviser
Former NSW financial adviser, Ashley Grant Howard, has been permanently banned from providing financial services by the Australian Securities and Investments Commission (ASIC) after he was found to have breached compliance with the Corporations Act.
ASIC found that Howard had failed to comply with notices served to produce documents, assist the liquidator of Meridien Capital in his position as a director and withheld information by failing to provide books and records. In addition, ASIC also found Howard failed to assist his trustee in bankruptcy.
Howard was found to have provided false information and falsified documents to clients, and incorrect information to third parties
ASIC commissioner, John Price, said: "Mr Howard's conduct was particularly bad in that, on occasions, he preyed on elderly and vulnerable people".
"ASIC will take action to remove persons from the financial services industry to protect the public."
Howard was found to have used close to $2 million of client funds for his own benefits including a house purchase and the settlement of a debt with the ‘Wolf of Wall Street,' Jordan Belfort.
AUTHOR
Hope William-Smith
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