• subs-bellGet the latest news! Subscribe to the ifa bulletin

ASIC bans bankrupt adviser

ASIC has banned a Victorian-based financial adviser from providing financial services.

Allan Burt Vissenjoux, who is an undischarged bankrupt, has been banned from providing financial services until 29 May 2016, according to a statement released from ASIC today.

ASIC stated that the ban expires when Mr Vissenjoux’s bankruptcy ends.

Mr Vissenjoux was most recently an authorised representative of Total Financial Solutions Australia Ltd until 30 October 2013, according to ASIC.

ASIC said Mr Vissenjoux has the right to lodge an appeal with the Administrative Appeals Tribunal for a review of the corporate regulator’s decision to ban him.

ASIC notes that under section 920(A) of the Corporations Act 2001, it can ban bankrupt individuals from providing financial services.