adviser ban

Financial planning

Banned Melbourne adviser sees order varied with jail threat

An alleged involvement with an insurance claims business has led the Federal Court to vary the orders of a banned adviser to add the threat of jail time....

Financial planning

What led an adviser to falsify his exam result?

A financial adviser describes how he reached “breaking point” over the FASEA system when he falsified his financial adviser exam result, while the judge shares why he var...

Financial planning

The advisers under ASIC’s scrutiny in FY24

As the 2023–24 financial year comes to a close, Money Management reviews the financial advisers who fell under the regulator’s enforcement spotlight....

Financial planning

Melbourne AR banned for $650k client fund misappropriation

An authorised representative of Capstone Financial Planning has been permanently banned for misappropriating more than $650,000 in client funds....

Financial planning

Scaled advice model leads to second FSCP prohibition order

The FSCP has issued a registration prohibition order against a financial adviser until 2025 for misleading a client through a scaled advice model that excluded an SMSF in...

Financial planning

FSCP cancels insolvent adviser’s registration

A financial adviser has been banned from giving personal advice to retail clients until 2025 after the FSCP found there is a “real risk of harm” to the public’s confidenc...

Financial planning

AR banned, advice firm’s AFSL cancelled

Frederick Ackerman has been banned by the corporate watchdog for four years and the advice firm he was an authorised representative of, Pure Strategy, had its licence can...

Financial planning

Ex-adviser banned for three years

Brisbane-based Nathan Smith failed to provide advice that was in the best interest of clients....

Financial planning

ASIC bans Qld adviser and cancels Smart Solutions licensee

Financial adviser Timothy Shapter has been banned for seven years for failing best interests duty and his licensee Smart Solutions has had its licence cancelled....

Financial planning

Adviser given investment commissions banned

ASIC said Kyle Marshall did not understanding the meaning of personal advice and did not act in his clients’ best interest....

Financial planning

Sydney former adviser banned for six years

The Australian Securities and Investments Commission has banned a Sydney man, formerly an adviser at Kaz Capital, from providing financial services for six years....