Clicky

Former adviser banned for dishonest conduct

The Australian Securities and Investments Commission (ASIC) has permanently banned former GWM Adviser Services and TFG Advice Solutions adviser, Grant Desmond Taylor, from providing financial services after an investigation found he had engaged in dishonest and deceptive conduct, and that he was not of good fame or character.

Taylor was a representative of GWM, a financial services licensee of National Australia Bank, until 2013, but ASIC found the adviser had continued to tell private clients he was authorised to provide advice and financial services on behalf of GWM when he was not.

ASIC also found that Taylor dishonestly withdrew at least $1,951,000 from client funds earmarked for specific investments and used the funds for personal and business expenses between 2007 and 2016.

Related News:

 

 




Related Content

Advisers significantly impacted by PC

The Productivity Commission (PC) may have been tasked with addressing the competitiveness and efficiency of superannuation but its final report had fi...Read more

PC calls for higher SMSF advice standards

As a year set to be dominated by new advice training standards for financial advisers begins, the SMSF Association has welcomed the Productivity Commi...Read more

ASIC suspends Halifax Investment’s license

The Australian Securities and Investments Commission (ASIC) has suspended the Australian financial services (AFS) licence held by Halifax Investment S...Read more

Author

Comments

Comments

does O'Dwyer really believe the proposed education standards will stop this behavior???? Yet again people focus on the wrong thing. Rippoll solved the margin lending problem, by regulating super fees. Totally missed the point that margin lending and Super can never be together. Now he is out of parliament..... regulators and law makers need to understand the issues and I can't see they really understand what they are trying to achieve at present, other than belief that education always makes it better.

Add new comment