Former adviser charged with falsifying documents
Former financial adviser, Ashley Grant Howard, has been charged with falsifying documents.
Howard, of Hobart, Tasmania, appeared in Newcastle Local Court charged with 17 offences under the NSW Crimes Act.
It was alleged he used 17 false transfer forms to arrange for shares to be transferred between parties without the knowledge and approval of 14 shareholders between July 2013 and April 2014. Shares were transferred from clients to himself and an associate.
These were shares in GPS Alliance Holdings, BHP Billiton and Aquarius Platinum.
The maximum penalty per offence when dealt with summarily was two years in prison or a fine of up to $11,000.
The matter was being prosecuted by the Commonwealth Director of Public Prosecutions after a referral by the Australian Securities and Investments Commission (ASIC).
Howard had been permanently banned from providing financial services in October 2016.
Recommended for you
With the highest number of candidates in a year sitting the latest financial advice exam, a surge of new entrants are expected in the coming weeks, according to Wealth Data.
AMP has launched a range of five diversified index managed portfolios on its North investment platform, targeting a younger client demographic.
An NSW adviser, who advised over 120 clients after falsifying her financial advice exam results, has been permanently banned by ASIC.
ASIC has released the results from the latest financial adviser exam, the first to be run since changes to its structure earlier this year.