Melbourne adviser banned
The Australian Securities and Investment commission (ASIC) has permanently banned a former Melbourne securities representative, Richard Long Chin Joon, from acting as a representative of a dealer or an investment adviser.
The Australian Securities and Investment commission (ASIC) has permanently banned a former Melbourne securities representative, Richard Long Chin Joon, from acting as a representative of a dealer or an investment adviser.
The ban follows an investigation that revealed a widespread course of misconduct by Long involving a number of his clients’ investments.
ASIC says it is aware of unauthorised share trades of over $350,000. It also found that Long falsified statements regarding clients shareholdings and dividend re-ceipts, and that he made unauthorised withdrawals from client cash management accounts.
Long’s proper authority to act as a securities representative was revoked when his misconduct was discovered.
Recommended for you
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.