The Australian Securities and Investments Commission has accepted an enforceable undertaking from Sydney-based adviser Gabriel Nakhl, which would permanently prevent him from providing financial services.
Mr Nakhl was a financial adviser at SydFA Pty Ltd, and a former authorised representative of the Salisbury Group – now in liquidation – and the AFS Group, also in administration, as reported by ifa in March.
An ASIC investigation into Mr Nakhl’s conduct as an adviser found he had given “unauthorised financial product advice” and “made false and misleading statements and engaged in misleading and deceptive conduct”.
The investigation into Mr Nakhl’s affairs in ongoing.
More to come.
Has the ASIC woken up now checking that various company’s are miss selling their products, shame on the people that are running the ASIC you are the people that should be trying to protect investers .
You must be red faced about the fact the LM MPF was sold with nothing but Freud, and you was aware about the situation but closed your eye and let this continue. You should be the first people to act against such business not waiting till everybody has lost their monies.