ASIC permanently bans former NSW financial adviser Nicholas Ellis
ASIC has permanently banned former financial advisor Nicholas Ellis, of Valentine, NSW, from providing financial services and engaging in credit activities.
In October 2019, Mr Ellis was sentenced to three years imprisonment for fraud offences, to be served by way of an Intensive Correction Order (19-287MR). As a part of the ICO, Mr Ellis will serve 12-months of home detention and undertake 700 hours of community service.
Following the conviction, ASIC pursued the banning order to remove Mr Ellis permanently from the financial advice and credit industries.
