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.
When financial failures occur and accountability can’t be pinpointed clearly, often it is the adviser that gets ...
When dealing with high-risk investment portfolios and platforms, it is important advisers manage expectations even when ...
Orbis Investments has added a new marketing head to extend its reach to advised retail investors as part of its “next ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin