A former authorised representative of collapsed dealer group Australian Financial Services (AFS) Group has entered into an enforceable undertaking with the corporate regulator.
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.
SUBSCRIBE TO THE IFA DAILY BULLETIN
10:47New CEO appointed at Centrepoint AllianceBy Staff Reporter
09:22FASEA education pathways provide certainty: O’DwyerBy Killian Plastow
14 Dec 2017AUSTRAC adds to list of CBA allegationsBy Killian Plastow
09:12Get ‘independent financial advice’: Joe HockeyBy Aleks Vickovich
14 Dec 2017‘Forward-thinking’ advisers drive mFunds growthBy Aleks Vickovich
14 Dec 2017FASEA announces education requirementsBy Killian Plastow
- view all