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.”
The corporate regulator addressed concerns with the new regime.
The digital solution has launched.
The digital platform for financial advisers and accountants has confirmed the new appointment.
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