ASIC closes doors on Storm charges with two finesBY ALEX BURKE | FRIDAY, 23 MAR 2018 12:38PMNearly a decade after ASIC began its investigation into Storm Financial, two directors have been fined $70,000 each for breach of duties. Related News |
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10 years later & only a 70k fine. As an industry participant who has dealt with clients that were directly affected I can say I'm disgusted completely.
As advisers we have a duty of care. Now all clients suffer through onerous regulation & paperwork because of the failings of this business. 70k each - how much did they make off their exorbitant entry fees?
ASIC you've let the adviseing community down - again.