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Bankrupt risk adviser banned by ASIC

The Australian Securities and Investments Commission has banned a Queensland-based insurance-specialist financial adviser for a period of nine months.

In a statement issued today, ASIC announced that Alistair Frank McCreath, an authorised representative of Australian Life Insurance Distribution Pty Ltd, has been banned from providing financial services for 8 months after becoming an “undischarged bankrupt”.

“The ban is lifted when Mr McCreath’s bankruptcy ends”, the statement said.

More to come.