Financial Negligence

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

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.”

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 NAB financial adviser

ASIC permanently bans former NAB financial adviser

ASIC has permanently banned Mr Max Kiattisak Eung (also known as Kiattisak Eungpongpan), of Tempe, New South Wales from providing financial services and engaging in credit activities.

ASIC permanently bans former authorised representative Michael Taylor from providing financial services

ASIC permanently bans former authorised representative Michael Taylor from providing financial services

ASIC has permanently banned Queensland financial adviser Mr Michael Gordon McIlwraith Taylor from providing financial services. Mr Taylor was an authorised representative of Morgans Financial Limited from 10 March 2004 until 21 September 2015.

Fees for No Service

Fees for No Service

The Royal Commission is gaining a lot of momentum due to the misconduct by financial advisors around Australia. Our consumer advocate Bernie Ripoll is here to discuss the Royal Commission and what to do in the case that you were charged “fee’s for no service.” 

ASIC bans former Suncorp Financial Services financial adviser for four years

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.

Former financial adviser permanently banned for dishonest conduct

Former financial adviser permanently banned for dishonest conduct

ASIC has permanently banned Mr Grant Desmond Taylor, of Montmorency, Victoria from providing financial services after finding he engaged in dishonest and deceptive conduct towards his clients. ASIC also found that Mr Taylor was not of good fame or character.

Banking Royal Commission - Making a claim and FOS

Banking Royal Commission - Making a claim and FOS

Hon. Bernie Ripoll, Consumer Advocate for Financial Rescue explaining the Financial Ombudsman Service as the Royal Commission starts its inquiry into financial advice. #banksRC

ASIC bans Queensland financial adviser from financial services industry for 7 years

ASIC bans Queensland financial adviser from financial services industry for 7 years

ASIC has banned Mr Glenn William Connor from providing any financial services for the next seven years, after it was found that he had not complied with a financial services law.