A former Melbourne-based AMP Financial Planning authorised rep has been banned by ASIC after pleading guilty to criminal charges in a Victorian county court.
A statement issued by the corporate regulator reveals that Roy Whye Wah Moo – who is listed as an “AMP Financial Planner since 1988” on the website of his company Roy Moo & Associates – is being banned from providing financial and credit services permanently.
Mr Moo pleded guilty to charges of dealing with money which was the proceed of crime in the County Court of Victoria in December 2013, putting him in breach of the Corporations Act which gives ASIC powers to ban anyone convicted of fraud-related crimes.
According to reports in the Fairfax media, Mr Moo was “jailed for two years and three months” for laundering drug money at Melbourne’s Crown Casino.
SUBSCRIBE TO THE IFA DAILY BULLETIN
19 Jan 2018AFA to host international adviser group AGMBy Staff Reporter
19 Jan 2018ASIC warns licensees over death nominationsBy Staff Reporter
18 Jan 2018ABA awaits government action on advice reformsBy Killian Plastow
18 Jan 2018SMSF sector grows 26% in 5 yearsBy Staff Reporter
18 Jan 2018ASIC accepts EU from former Suncorp adviserBy Staff Reporter
18 Jan 2018AIOFP to visit USA on 20th anniversaryBy Staff Reporter
- view all