Nina Katherina Williams did not disclose that she had been charged with fraud and stealing in Queensland when applying to be an authorised representative of Infocus Securities Australia.
During the application process, Ms Williams was required to disclose whether she was aware of any current court action against her, or had ever been the subject of an enquiry into her professional conduct or character.
Ms Williams answered “no” to those questions in both licensee and professional indemnity insurance application forms.
ASIC found that Ms Williams acted with a lack of care and professionalism in relation to these disclosures. Her failure to disclose the information could have resulted in the avoidance of the insurance contract by the insurer, meaning her clients might not have received compensation in the event of a claim or dispute.
Ms Williams has the right to appeal the Administrative Appeals Tribunal for a review of ASIC’s decision.
charged but not convicted???? Who is to say there is anything in charge if it has taken this long could be a petty dispute. Stop bullying the little guy how about you get a big fish ASIC!!!!
Was there a police check? Was a charge actually laid by police?
[quote=Amazed ]ASIC is acting against the common good. Anyone who has committed any such crime must not enter or remain in Advice. Full stop. A one year ban!???
ASIC must be kicked out and replaced with a body which will respect Australians and respect the Advice profession.
[/quote][quote=Amazed ]ASIC is acting against the common good. Anyone who has committed any such crime must not enter or remain in Advice. Full stop. A one year ban!???
ASIC must be kicked out and replaced with a body which will respect Australians and respect the Advice profession.
[/quote]don’t think so Mark! More to this story and what the small guy has done.
Way to go ASIC! Nice catch. The lady was ‘charged’ eh? Was she convicted? Anyways, you and your pals at AUSTRAC best be chasing some kiddy fiddlers at Westpac.
Agreed charged not convicted so tired of the small guy taking the fall while the big end of town walks away with a golden handshake! Go do something about the real criminals ASIC
Suggestion: make reference checking easier for licensees – one central source of truth with direct access to proper police checks!
As a side issue, this may also solve issues around liability/defamation for a poor references being passed from one licensee to another.
[quote=Anonymous]Jeez ASIC, you’re a bit inconsistent. 1 year ban for fraud but then next week you’ll ban someone else for 5 years for having a dusty window ledge and serving decaf coffee.[/quote][quote=Anonymous]Jeez ASIC, you’re a bit inconsistent. 1 year ban for fraud but then next week you’ll ban someone else for 5 years for having a dusty window ledge and serving decaf coffee.[/quote]
and deservedly so, no one should have to put up with decaf coffee.
ASIC is acting against the common good. Anyone who has committed any such crime must not enter or remain in Advice. Full stop. A one year ban!???
ASIC must be kicked out and replaced with a body which will respect Australians and respect the Advice profession.
serioulsy you can’t be an adviser mate ASIC acting against the common good, no ASIC doing what they have always done a woman charged not convicted, no evidence, case against her seems weak if it is years ago with still no conviction, fraud, seriously! ASIC should be focusing on the banks and the real criminals then we will see acting agains the common good.
Over how many years have ASIC “acted with a lack of care and professionalism” while kissing butt to the big banks and handing out EU’s! And they pick on the single little adviser! The delivery of her advice was UNLIKELY to “result in the avoidance of the insurance contract by the insurer” and it should have been proven by ASIC. Seriously ASIC, you are supposed to be a professional organisation and even with the powers you have been given you continue to pursue the small fish and shy away from the backlash of the big banks and their legal teams.
By my calculations, ASIC will have banned each and every adviser by 2058.. keep up the heavy handed work ASIC and just let the Bank Execs keep doing what they do!
Reeducation camps are obviously the answer. I understand there is a Chinese influence in Australian politics today. I am sure they could give good tips for reeducation standards.
Jeez ASIC, you’re a bit inconsistent. 1 year ban for fraud but then next week you’ll ban someone else for 5 years for having a dusty window ledge and serving decaf coffee.
You just made my day – thanks for the laugh!!
Oh no…best I order some more dusty cloths and hide the decaf…
sounds like there is more to the story if there is no conviction!! Fraud by a single operator, could be a petty dispute that has gone no where by the sounds of it! Do your job ASIC get a big fish if you want a real headline!