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.
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