The Australian Securities and Investments Commission have obtained consent orders and undertakings in the Supreme Court of NSW against QWL, QWL Asset Management and sole director Ross Hopkins.
"ASIC commenced an investigation in relation to allegations that Mr Hopkins and QWL failed to assist the Australian Financial Complaints Authority (AFCA) to resolve client complaints," the regulator said.
ASIC said the orders restrain Hopkins and QWL dissipating or diminishing the value of their assets and restrain both parties from providing financial services to clients without seeking approval from the regulator.
ASIC said the investigation is continuing and the matter will face the Supreme Court of New South Wales on 18 November 2019.
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Additionally, ASIC said it is accepting reports of concerns of misconduct in relation to the activities of Hopkins and QWL.
QWL is a registered holder of the AFS license and operates from its office in Sydney's northern suburbs.