ASIC says they have banned a former employee of ANZ Financial Planning, from providing financial services for a period of five years.
He was a financial planner with ANZ Financial Planning at Hurstville between 19 January 2006 and 30 July 2014.
He was banned from providing financial services as ASIC found that he engaged in misleading and deceptive conduct by creating false documents and falsely amending documents contained on client files. The conduct included:
- writing clients’ names and initials on documents in the places designated for their signatures and initials;
- changing the dates recorded on a number of documents; and
- creating false investor profile forms for two clients by photocopying forms they had signed in previous years and changing the dates on the copied documents.
Deputy Chairman, Peter Kell said, ‘Financial advisers are important gatekeepers who must act honestly to increase broader public confidence in the financial services industry.
‘This banning should serve as a deterrent to any financial adviser tempted to act dishonestly.’
He has the right to seek a review of ASIC’s decision to the Administrative Appeals Tribunal.
Background
ASIC’s work in the Wealth Management Project covers a number of areas including:
- Working with the largest financial advice firms to address the identification and remediation of non-compliant advice; and
- Seeking regulatory outcomes, when appropriate, against licensees and advisers.
