ASIC bans ex-NAB adviser
Thursday, 4 February 2016 1:02pm

ASIC has banned a former NAB adviser for seven years.

ASIC has alleged that then NAB representative Shane Thompson, engaged in misconduct between December 2012 and February 2013.

Specifically, Thompson forged "change of adviser" forms and submitted them without clients' knowledge, used this to transfer NAB clients to his personal client-book, and benefited financially from doing so.

"ASIC's action against Mr Thompson should serve as a lesson to any financial advisers committing similarly brazen misconduct: ASIC will ban you," said ASIC deputy chair Peter Kell.

This ban forms part of ASIC's wider Wealth Management Project, designed to scrutinise the wealth management activities of Australia's largest financial institutions: specifically Macquarie, AMP, NAB, Westpac, CBA and ANZ.

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