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Showing 71 - 80 of 902 results for "Banned"

Federal Court hammers defunct advice firm with $11m penalty

ANDREW MCKEAN  |  MONDAY, 28 APR 2025
... said misconduct exploiting superannuation savings is an enforcement priority. ASIC updated its guidance on conflicted and banned remuneration (RG 246) in December 2020, and released an information sheet in December 2022 to help advice providers comply ...

UGC's AFCA membership to cease

KARREN VERGARA  |  MONDAY, 7 APR 2025
... establish SMSFs and invest into speculative schemes, which Joel Hewish, the sole director of UGC, had interests in. He has been banned from working in the industry for 10 years. ASIC has since made interim stop orders and cancelled UGC's AFS Licence ...

Queensland adviser banned for five years

MATTHEW WAI  |  MONDAY, 31 MAR 2025
A Queensland financial adviser has been banned by ASIC for failing to act in the best interests of his clients and failing to prioritise their interests. Grant Thomson is banned from providing financial services, controlling an entity that carries on ...

Non-compete, restraint clauses to be outlawed

JAMIE WILLIAMSON  |  TUESDAY, 25 MAR 2025
... competitors. Announced as part of the Federal Budget for the impact it's expected to have on wages, non-compete clauses will be banned where they "have no justification and drag down wages." The ban will apply to all workers who earn less than $175,000 ...

'Incompetent' adviser permanently banned by ASIC

MATTHEW WAI  |  FRIDAY, 14 MAR 2025
A Sydney-based financial adviser has been permanently banned for acting dishonestly and exhibiting a fundamental lack of knowledge, integrity, and professionalism, ASIC said. Peter Surtenich has been permanently banned on March 6 from providing any ...

Unlawful hawking practices re-emerge in SMSFs

MATTHEW WAI  |  TUESDAY, 11 MAR 2025
... the sole purpose of selling an investment product that is often associated with promises of unrealistic returns." ASIC banned unsolicited cold calling in life and consumer credit insurance sales in January 2020 following the Hayne Royal Commission, intending ...

ASIC bans adviser jailed for supplying drugs

MATTHEW WAI  |  FRIDAY, 7 MAR 2025
ASIC has banned Northern Territory financial adviser Harris Shortland for seven years, following his conviction for supplying dangerous drugs. In December 2021, Shortland was convicted on drug offences after having been arrested in July 2018 for importing ...

Freezing order slapped on First Guardian Master Fund, Falcon Capital

KARREN VERGARA  |  MONDAY, 3 MAR 2025
... superannuation and using platforms linked to Macquarie Investment Management and Equity Trustees Superannuation. Also in 2022, ASIC banned Perth-based director Sharree Grace Hutchinson from providing financial services for six years after she urged investors ...

ASIC bans Brisbane-based financial services director

ELIZA BAVIN  |  TUESDAY, 25 FEB 2025
ASIC has banned JB Markets director Peter Aardoom from providing financial services, controlling an entity that carries on a financial services business and performing any function involved in the carrying on of a financial services business for eight ...

Convicted adviser fails to appeal prison sentence

MATTHEW WAI  |  THURSDAY, 20 FEB 2025
... manifestly excessive". The appeal was ultimately rejected by the Court of Appeal (Victoria) yesterday. Grimm was initially banned by ASIC from providing financial services for 20 years in 2016, tied to his role as a director at the wound up business ...