Former SMSF adviser found guilty
A former self-managed superannuation (SMSF) adviser has been found guilty at Downing Centre Local Court after pleading guilty to one count of lodging a false statement with the Australian Securities and Investments Commission (ASIC).
Craig Gerard Dangar was convicted and released subject to a recognizance order, without security, and requiring him to be of good behaviour for 18 months.
An ASIC investigation into Dangar's conduct between January 2004 and September 2007 led to three charges being laid by the regulator.
In July 2012, he pleaded guilty to falsely claiming in a document lodged with the regulator to being a director of SMSF Consulting.
In February this year, Dangar received concurrent suspended sentences of 18 months imprisonment in relation to obtaining financial advantage by deception.
The Commonwealth Director of Public Prosecutions prosecuted the matters.
Dangar is currently banned from providing financial services until the end of 2019 in relation to his conduct while employed at SMSF Consulting.
Recommended for you
Two commentators have shared why the inclusion of alternatives in a diversified portfolio shouldn’t be a simple switch with a traditional asset and will depend heavily on clients’ objectives.
Morgans chief executive, John Clifford, has announced he will step down from the wealth management group after eight years leading the business.
Funds under administration on the BT Panorama platform have passed $120 billion in the last six months as it progresses its migration of Asgard into the platform.
Private markets may be the hot topic of the day but two financial advisers have shared the red flags to consider and why advisers shouldn’t be tempted to invest solely in the pursuit of higher returns.
