Sydney former adviser banned for six years
The Australian Securities and Investments Commission (ASIC) has banned a Sydney man, formerly an adviser at Kaz Capital, from providing financial services for six years, after finding that he had attempted to mislead the share market regarding prices.
Specifically, the regulator found that David Stephen Cornford had attempted to mislead the share market, taking part in both transactions that created or maintained an artificial trading price for shares, or were likely to, and acts that created, or were likely to, a false or misleading appearance to the market for shares or their prices.
ASIC also found that Cornford had provided a financial service that the licence of Kaz Capital didn’t cover when he was employed there from 2014 – 2017. This came in the wake of ASIC imposing licence conditions on Kaz Capital earlier this year, following concerns about the adequacy and effectiveness of its compliance framework.
Recommended for you
A NSW-based adviser has been banned from providing financial services for five years for inappropriate advice and the AFSL of his business has been cancelled by ASIC.
The introduction of Rhombus Advisory has caused a shift in the top advice licensees as Insignia separates its advice business into two channels.
Given the clear divergence between the cost of financial advice and clients’ willingness to pay, two experts explore how advisers can transform the way they convey value to potential clients.
Nearly 18 months since Invest Blue adopted its nine-day fortnight structure to support employee wellbeing, the national advice firm has enjoyed positive results across all metrics.