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 |
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Cliff Man
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ETF Shares chief executive Cliff Man spent his career automating, building and challenging established systems. Now, he is betting that Australia's ETF market has room for something different. Vinny Vucago writes.
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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.