ASIC has banned a Queensland-based authorised representative of non-aligned dealer group Ballast Financial Management for a period of six months.
The corporate regulator has announced that Kelvin William Roy Fair has been banned until November 2014 for becoming an undischarged bankrupt, in breach of the Corporations Act.
“Mr Fair falsely represented to his Australian financial services (AFS) licensee that he was not a bankrupt, and in so doing deprived the AFS licensee of the opportunity to disclose his bankruptcy to the AFS licensee’s insurer,” said the statement from ASIC.
“Mr Fair also failed to comply with his obligations as a bankrupt.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 22 Sep 2017ASIC permanently bans unlicensed SMSF spruikerBy Staff Reporter
- 22 Sep 2017Advisers recognised at Women in Finance AwardsBy Staff Reporter
- 21 Sep 2017Advisers not fully aware of LIF impacts: ZurichBy Staff Reporter
- 21 Sep 2017Red tape forces SMEs to cut staffBy Adam Zuchetti and Aleks Vickovich
- 21 Sep 2017Bitcoin 'dangerous and speculative', says MagellanBy Tim Stewart
- 20 Sep 2017ANZ calls for adviser transparencyBy Killian Plastow
- view all