ASIC bans former Commonwealth Financial Planning adviser Stuart Jamieson
ASIC has banned a former Commonwealth Financial Planning Limited (CFPL) adviser from providing financial services for five years.
ASIC's action to ban Stuart Murray Jamieson is part of ASIC's Wealth Management Project which is targeting compliance in the four major banks, Macquarie and AMP (Refer 15-081MR).
An ASIC investigation of clients files found Mr Jamieson failed to provide a Statement of Advice (SOA) within the required timeframe on more than 500 occasions, despite warnings from CFPL.
Mr Jamieson also engaged in misleading and deceptive conduct in April 2014 by not disclosing his previous employment with CFPL and their investigation into him when applying to become an authorised representative at Securitor Financial Group Limited.
Mr Jamieson has a right to appeal to the Administrative Appeals Tribunal for a review of ASIC;s decision.
Background
Mr Jamieson was a representative of CFPL from Octover 2003 to May 2012. Mr Jamieson resigned from CFPL while CFPL were investigating his conduct.
