Adviser cops 10-year sentenceBY KARREN VERGARA | FRIDAY, 6 OCT 2023 12:32PMA former financial adviser who took more than $10 million from clients to fund his lavish lifestyle will spend the next 10 years in jail. Related News |
Editor's Choice
RBA on hold but keeps door open for more hikes
The Reserve Bank of Australia has kept the door open for further tightening despite keeping the cash rate steady at 4.35%.
DASH appoints new chief executive
DASH Technology Group appointed a new chief executive, replacing the incumbent who left the company in May.
GQG sees $6.4bn outflows in July
GQG Partners recorded another significant month of client redemptions in July, with net outflows of US$4.5 billion ($6.4b), as the global fund manager continued to face pressure on funds under management.
A tough year for high-duration bond investors: Morningstar
New analysis depicted duration as the biggest headwind for bond investors, with both Australian and global bonds labelled as the "laggards" against their peers over the 12 months to June end.
Videos
Brought to you by ![]()
Further Reading
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Andrew Gregory
CHIEF ADVICE OFFICER
UNISUPER
UNISUPER
After 25 years, Andrew Gregory remains motivated by the impact financial advice can have on Australians' lives. As UniSuper's chief advice officer, he is not slowing down on any of his current ambitions. Matthew Wai writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
What this outcome proves is that the draconian compliance regime, particularly post RC, is a farce. What oversight was provided by ASIC, AFCA and the relevant AFS Licensees? Passing legislation to require "honest" advisers to complete reems of paperwork does not stop "crooks", because "crooks" simply ignore the compliance.