From 2011 to 2018, Emma Maree Radke provided administrative services via a related company of Fitzpatricks Private Wealth, a financial services licensee, according to a statement.
Radke was convicted of fraud in April 2019, after the District Court of Queensland found that, between January 2017 and January 2018, she used her own banking security token and a second banking token that did not belong to her to transfer a total of nearly $300,000 of client and corporate funds into her personal accounts.
The fraudulent transactions affected client and company accounts of Fitzpatricks Private Wealth Partners, a related body corporate and authorised representative of Fitzpatricks.
ASIC found that Radke’s conduct involved ongoing dishonesty and, in the interests of promoting confident and informed participation by consumers, decided she should be permanently excluded from the financial services industry.
The corporate regulator noted that Radke was not acting as an authorised representative at the time of the conduct, but was previously a financial adviser and had continued to hold trusted positions within the financial services industry over a number of years.
ASIC further noted the matter was identified and reported by Fitzpatricks, which has taken steps to ensure any impacted client accounts have been identified and remediated.
Radke’s banning will be recorded on ASIC’s publicly available banned and disqualified persons’ register.
I voluntarily cancelled my registration as financial adviser in June 2018, ASIC record is “CEASED”. So my status is the same as banned adviser? ASIC should be more intelligent to have a better status description code differentiating banned /disqualified adviser from an adviser who just resigned with no adverse records.
ASIC need to maintain better public records online. There is no trace of Emma on the MoneySmart register and her Professional Register on the ASIC website simply says ‘Ceased’. I have noticed this is the case for many advisers banned of late and unless consumers are Googling their names they would have no way of knowing their checkered history.