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Showing 131 - 140 of 890 results for "Banned"

Adviser cops 10-year sentence

KARREN VERGARA  |  FRIDAY, 6 OCT 2023
... imprisonment at the Victoria County Court yesterday. He will be eligible for parole after 6.5 years. Nugara, who was permanently banned by ASIC in April, stole $10,072,061.93 from 38 clients between 10 October 2014 and 9 January 2019. The hearings revealed ...

ASIC bans former risk adviser

CASSANDRA BALDINI  |  THURSDAY, 5 OCT 2023
Former insurance adviser John Durant has been banned by the regulator for three years after he was found to have told clients to deposit insurance premiums directly into his personal account. Durant is prohibited from providing financial services, controlling ...

Skynet adviser stole $10.2m: Court

KARREN VERGARA  |  THURSDAY, 28 SEP 2023
... swindled clients to the tune of $10 million and could face up to 20 years in jail. Terence Rio Nugara, who was permanently banned by ASIC in April, stole $10,152,061.93 from 38 clients between 10 October 2014 and 9 January 2019, documents from the Country ...

NextGen Financial Group forced into liquidation

KARREN VERGARA  |  MONDAY, 25 SEP 2023
... NextGen has a string of advisers that landed in hot water. Most recently, former NextGen adviser David Mario Valvo was banned from leaving the country and saw his assets frozen as ASIC investigates if he inappropriately charged clients' super funds. ...

Former van Eyk chief cops permanent ban

KARREN VERGARA  |  FRIDAY, 8 SEP 2023
... currently serving a 15-month sentence and must complete 250 hours of community service. ASIC said Thomas is permanently banned from performing any function involved within a financial services business or credit provider, or control, whether alone or ...

Madison acquisitions strengthen top line

KARREN VERGARA  |  THURSDAY, 31 AUG 2023
... Importantly, we are now seeing positive momentum and expect synergies to flow consistently over FY24 and beyond". In June, ASIC banned former Madison adviser Stephen Vick for recommending that clients roll over their existing superannuation to a newly ...

Veteran adviser cops permanent ban

KARREN VERGARA  |  TUESDAY, 15 AUG 2023
ASIC permanently banned a financial adviser who has been advising for 34 years after an investigation found, among other violations, that he misappropriated funds and dealt in derivatives without the proper authorisations. Donald James Cuthbertson ...

ASIC acts against illegal investment scheme operator

JAMIE WILLIAMSON  |  WEDNESDAY, 26 JUL 2023
... Group wound up, alongside five of the investment schemes and all associated companies and trusts. It also wants Hopkins banned from managing corporations. The regulator already had Hopkins' assets frozen in June 2022, as well as those of The A Team ...

ASIC continues to reprimand SMSF auditors

CHLOE WALKER  |  MONDAY, 24 JUL 2023
... Leggett, and Malcolm Orman were disqualified from being SMSF auditors and their names have been added to ASIC's public banned register. They are ineligible to reapply for registration, although Funder has already requested a review of the decision by ...

CFS settles super fees class action

JAMIE WILLIAMSON  |  FRIDAY, 14 JUL 2023
... fees under the commission arrangements. This is despite the charging of commissions on new superannuation accounts being banned in 2013 under the Future of Financial Advice reforms. The action, which has been ongoing since October 2019, said CFS had ...