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

Financial Negligence

,

Perth SMSF adviser, Wayne Blazejczyk, banned for best interests failure

,
Perth SMSF adviser, Wayne Blazejczyk, banned for best interests failure

The corporate watchdog has banned Perth self-managed superannuation fund (SMSF) adviser, Wayne Blazejczyk from providing financial services for five years for failing to meet best interests obligations.

,

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

,
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.

, ,

Australian watchdog slaps 5-year ban on former Linchpin director Paul Nielsen

, ,

Paul Nielsen was hit with the ban for his role in the operation of the managed investment schemes by Linchpin and Endeavour. ASIC found Nielsen's conduct in approving the investment of funds of the Investport Income Opportunity Fund in related entities constituted multiple contraventions of the Corporations Act.

Read the full original article here.

, , , ,

Banking royal commission leads to first conviction — Dover Financial boss Terry McMaster

, , , ,
Banking royal commission leads to first conviction — Dover Financial boss Terry McMaster

Failed firm Dover Financial Planning, and its sole director Terry McMaster, were convicted in the Federal Court of false and misleading conduct.

ASIC alleged Dover imposed a misleadingly titled "client protection policy" on its clients, which in fact offered greater protection to the firm itself.

,

ASIC hands down 6-year ban over dodgy SMSF advice to Jihad Soleiman

,
ASIC hands down 6-year ban over dodgy SMSF advice to Jihad Soleiman

Mr Soleiman, an authorised representative of Apogee Financial Planning Limited (Apogee) during the period June 2013 to February 2018, had been approached by clients about SMSFs for the purposes of either investing into property or property development companies.

,

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

,
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.

, , ,

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

, , ,
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.

,

Ex-Westpac, Commonwealth FP adviser, Peter XU, banned

,
Ex-Westpac, Commonwealth FP adviser, Peter XU, banned

The Australian Securities and Investments Commission (ASIC) has banned Peter Jianchao Xu for five years from providing financial services following surveillance.

,

Perth Adviser Banned for Four Fears

,
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.

, , , ,

Property investors lose hundreds of thousands of dollars through unregulated real estate advice

, , , ,
Property investors lose hundreds of thousands of dollars through unregulated real estate advice

“We know that property prices go up and they go down, we know that superannuation should be a diversified portfolio, so across a spread of different assets, and if you're holding a single asset in your retirement fund then you are exposing yourself to significant risk.”