Bad Financial Advice

ASIC bans financial adviser for 4 years

ASIC bans financial adviser for 4 years

ASIC has banned financial adviser Mr Graeme Ashley Cowper, of Oatley, NSW, from providing financial services for 4 years after an investigation found he was not adequately trained or competent to provide financial services.


ASIC commences civil penalty proceeding against Westpac for poor financial advice

ASIC commences civil penalty proceeding against Westpac for poor financial advice

ASIC has commenced proceedings in the Federal Court of Australia against Westpac Banking Corporation in relation to alleged poor financial advice provided by one of its former financial planners, Mr Sudhir Sinha.

ASIC permanently bans former Perth insurance broker

ASIC permanently bans former Perth insurance broker

ASIC has permanently banned Perth insurance broker, Mr Antonino Gucciardi, from the financial services industry for misleading, deceptive and dishonest conduct.

MEDIA RELEASE: Royal commission not the answer to recovering lost investments

MEDIA RELEASE: Royal commission not the answer to recovering lost investments

The Turnbull government’s Royal Commission is putting the financial services industry under the spotlight, with many people wondering what to do if they have been a victim of bad financial advice. 

ASIC bans Victorian financial adviser for three years

ASIC bans Victorian financial adviser for three years

The Australian Securities and Investments Commission (ASIC) has banned financial adviser Julie Hamilton from providing financial services for three years for failing to act in her clients' best interests.

Red Flags For Bad Advice

Red Flags For Bad Advice

The introduction of the Best Interest Duty in 2013 as part of the Future of Financial Planning reforms (FoFA) stipulates that financial planners must act in the best interest of their clients.  While the Best Interest Duty has had an overwhelmingly positive effect, there are still a number of financial advisers being reported by ASIC who have not been compliant, and consumers should be aware of what to look out for to avoid these rogue financial advisers.

Enforceable undertaking excludes Queensland financial adviser for five years

Enforceable undertaking excludes Queensland financial adviser for five years

ASIC has accepted an enforceable undertaking (EU) from former Hart Ensole Pty Ltd representative, Dean Hartmann, after it was found that he failed to meet his financial advice obligations when dealing with his clients.

ASIC has banned Daniel Gerard Manley from providing financial services for five years.

ASIC has banned Daniel Gerard Manley from providing financial services for five years.

ASIC has banned Daniel Gerard Manley from providing financial services for five years.

ASIC has banned financial adviser Lawrence Toledo from providing financial services for seven years.

ASIC has banned financial adviser Lawrence Toledo from providing financial services for seven years.

ASIC has banned financial adviser Lawrence Toledo from providing financial services for seven years.

ASIC bans Queensland financial adviser Travis Byron McLean

ASIC bans Queensland financial adviser Travis Byron McLean

The Australian Securities and Investment Commission (ASIC) has banned financial adviser Travis Byron McLean from providing financial services for a period of five years.