ASIC bans Melbourne adviser over super transfer inducement
A Melbourne-based financial adviser has been permanently banned by ASIC after making false and misleading statements to clients in an effort for them to transfer their superannuation.
Kudzanai Philip Dzawo has been permanently banned from providing any financial services, performing any function involved in the carrying on of a financial services business and from controlling an entity that carries on a financial services business.
The regulator said that Dzawo “dishonestly attempted to induce clients to transfer their superannuation into a bank account he controlled by making false and misleading statements to the clients”.
“ASIC found Mr Dzawo was not a fit and proper person to provide financial services after he made false and misleading representations to clients, acted outside of his authorisation with his licensee, did not disclose his interest in an investment he recommended to clients, and demonstrated a serious lack of honesty, integrity, judgement, trustworthiness and professionalism,” it said.
Dzawo has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
ASIC said Dzawo was an authorised representative of Quadrant First Pty Ltd from April 2021 to November 2022 and Link Advice Pty Ltd from February 2018 to March 2021.
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I CAN NOT THINK OF A WORD TO SAY HOW BLOODY STUPID CAN YOU GET JG