ASIC bans financial adviser

Adviser dishonestly borrowing from client SMSFs leads to permanent ban

Dishonestly borrowing money from the SMSFs of clients has led to a former financial adviser being permanently banned from the industry. ASIC announced that it has permanently banned Robert Shane Michael from providing financial services, after finding he dishonestly borrowed money from clients’ SMSFs and used the money for personal… Read More »Adviser dishonestly borrowing from client SMSFs leads to permanent ban

Adviser who appeared before Banking Royal Commission banned for three years

A financial adviser who appeared before the Banking Royal Commission has been banned from providing financial services for three years by ASIC. ASIC announced that it has banned Sam Maxwell Henderson from providing financial services for three years. At times described as a ‘celebrity financial adviser’, due to his TV… Read More »Adviser who appeared before Banking Royal Commission banned for three years

5 year financial services ban for super and insurance switching advice

ASIC has banned a financial adviser from providing financial services for five years in connection to superannuation and insurance switching advice. ASIC announced that it had banned Beenleigh financial adviser Frazer Jon Muscat from providing financial services for five years, following surveillance by ASIC of advice he gave while an… Read More »5 year financial services ban for super and insurance switching advice

Four year ban for former Suncorp Financial Services adviser

ASIC has banned a former Suncorp Financial Services financial adviser for four years after finding he failed to act in his clients’ best interests. ASIC announced that it has banned Gerald Grubwinkler, of Queensland, from providing financial services for four years. The regulator found that Mr Grubwinkler had failed to: “adequately identify the… Read More »Four year ban for former Suncorp Financial Services adviser

ASIC bans former Westpac & NAB adviser for 5 years for super advice

ASIC has banned a former Westpac and NAB financial adviser from providing financial services for five years, due to superannuation advice that in some cases “significantly” reduced clients’ superannuation savings. ASIC announced it had banned Christopher Ramsay for failing to act in the best interest of clients and giving advice that… Read More »ASIC bans former Westpac & NAB adviser for 5 years for super advice