ASIC bans convicted adviser

In a statement released today, the Australian Securities and Investment Commission (ASIC) has revealed that former Bell Potter adviser Lawson Stuart Donald has received a permanent ban, in order to “maintain investor and consumer confidence in the financial system”.

On 26 April, Mr Donald received a two-year jail sentence, fully suspended upon entering a two-year good behaviour bond, after appearing in the Sydney District Court and pleading guilty to a charge of dishonest conduct.

Donald worked as a client adviser for the brokerage between 1 February 2003 and 21 April 2008. For three years he used his position as an employee to gain an “advantage for himself or someone else”, according to a previous ASIC statement.

The Commonwealth Director of Public Prosecutions appealed the sentence handed to Mr Donald on the basis that it is manifestly inadequate

ASIC bans convicted adviser

Aleks Vickovich

Last Updated: 16 July 2013 Published: 16 July 2013