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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Hugh Killen
MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
For Hugh Killen, several life lessons came from spending time on pastoral properties stretching across northern New South Wales and South-West Queensland.
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.