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.
ASIC hands down 6-year ban over dodgy SMSF advice to Jihad Soleiman
Adviser, Lawrence, O'Neill, banned by ASIC for five years
How CHOICE supporters fought for essential consumer protections against the financial services industry
Perth Adviser Banned for Four Fears
FORMER AON HEWITT ADVISER SERVED WITH TWO-YEAR BAN
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.”
When Self Managed Super Funds Go Wrong!
The Australian housing market is currently in a time of downturn, dropping 4.8% in the last year. In context, that’s the most significant fall since the Global Financial Crisis. While a slip in the market will affect many homeowners to some degree, those who have purchased investment property through a self-managed super fund (SMSF) may be especially at risk.
