ASIC bans unlicensed WA adviser

The Australia Securities and Investments Commission (ASIC) has made an order to permanently ban former Western Australia based financial adviser Neville Kendrick.

Kendrick has been banned from providing any financial services, performing any function involved in the carrying on of a financial services business, and controlling an entity that carries on a financial services business.

ASIC determined Kendrick provided financial services when he was not licensed or authorised, made materially misleading statements to induce investors, and acted dishonestly by making false statements.

ASIC said it also had reason to believe that Kendrick lacked the fitness and propriety, and the training and competence, required to participate in the Australian financial services industry.

The banning took effect from 22 April 2025.

Kendrick has the right to appeal to the Administrative Review Tribunal for a review of ASIC's decision.

The decision comes after the regulator determined Kendrick had not been licensed or authorised to provide financial services under an Australian financial services licence (AFSL) since 30 September 2022 but had been active in the industry since 2004.

Kendrick was an authorised representative of Great Southern Securities between 8 March 2004 and 21 October 2005, Professional Investment Services between 22 July 2009 and 7 April 2010, Jigsaw Support Services between 9 April 2010 and 2 August 2012, Charter Financial Planning between 2 August 2012 and 7 August 2015, and On Q Securities from 8 August 2015 and 30 September 2022.