Royal Commission
Tupicoffs
Hon. Bernie Ripoll on the Royal Commission

Consumer Advocate Bernie Ripoll on the Banking Royal Commission.

Hon. Bernie Ripoll on the Royal Commission
Media Release, Bad Financial Advice
Tupicoffs
MEDIA RELEASE: Royal commission not the answer ...

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. 

MEDIA RELEASE: Royal commission not the answer to recovering lost investments
Media Release, Financial Planning
Tupicoffs
MEDIA RELEASE: What To Expect From Your ...

With the Royal Commission into the banking sector confirmed, it’s refreshing to know some financial industry professionals still put their clients’ interests first.

MEDIA RELEASE: What To Expect From Your Financial Planner

FOS

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ASIC slaps 7-year ban on financial adviser

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ASIC slaps 7-year ban on financial adviser

The review found that Mr Shapter provided inappropriate switching advice by recommending that clients switch out of their existing superannuation and insurance products, and into higher fee-paying products. 

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ASIC permanently bans former NSW financial adviser Nicholas Ellis

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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.

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ASIC bans ex-NAB, AMP financial planner David O'Brien

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ASIC bans ex-NAB, AMP financial planner David O'Brien

Northern NSW-based financial adviser David Allen O’Brien has been banned from providing financial services for four years following surveillance by the Australian Securities and Investments Commission.

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Adviser, Lawrence, O'Neill, banned by ASIC for five years

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Adviser, Lawrence, O'Neill, banned by ASIC for five years

The surveillance relates to the period in which Mr O’Neill was an Authorised Representative of Godfrey Pembroke and Wealthsure Financial Services. ASIC found that he failed to comply with financial services laws and wasn’t adequately trained.

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How CHOICE supporters fought for essential consumer protections against the financial services industry

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How CHOICE supporters fought for essential consumer protections against the financial services industry

In 2019, the industry still receives $2 billion each year in these dodgy commissions – for doing no work. But from 2021, these will finally be banned too.

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Perth Adviser Banned for Four Fears

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Perth Adviser Banned for Four Fears

The Australian Securities and Investments Commission (ASIC) has banned Perth-based financial adviser, Lawrence O’Neill, from providing financial services for a period of four years.

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Gold Coast director and property developer sentenced to eight years’ imprisonment

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Gold Coast director and property developer sentenced to eight years’ imprisonment

“Owing investors approximately $9 million (17-246MR). Many of the investors were pensioners and were approached by telemarketing or word of mouth. Investors were convinced to borrow against their homes and were told that their money would be used to develop property in Tasmania. Instead, the money paid by investors was used to pay back interest owed to other investors, payments to employees, cash withdrawals and transfers to personal bank accounts.”

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ASIC commences civil penalty proceeding against Westpac for poor financial advice

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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.

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ASIC permanently bans former Perth insurance broker

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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.

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ASIC bans former Suncorp Financial Services financial adviser for four years

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ASIC bans former Suncorp Financial Services financial adviser for four years

ASIC has banned Queensland financial adviser Gerald Grubwinkler from providing financial services for four years. ASIC found that Mr Grubwinkler failed to act in his clients' best interests when providing advice on superannuation and insurance.