The corporate regulator has moved to ban a former AMP Financial Planning authorised rep more than a month after she was sentenced to 13 years in prison for fraud offences.
ASIC has today announced it has permanently banned former adviser Tina McPhee from providing financial services, after being convicted pf 181 counts of theft and sentenced to a 13-year jail sentence with a 10-year non parole period on 16 May.
Ms McPhee was arrested in July 2013 after the South Australian Police alleged she had stolen as much as $1.4 million from clients.
According to an ASIC statement, Ms McPhee’s thefts included “brain injury compensation payments for two of her victims and compensation payments for four children who lost their mother and sibling in a car accident”.
The incident follows the banning of a separate former AMP FP authorised rep last week after being criminally convicted.
SUBSCRIBE TO THE IFA DAILY BULLETIN
24 Nov 2017Increased ASIC licensing fees revealedBy Tim Stewart
24 Nov 2017FPA announces 2017 award winnersBy Staff Reporter
23 Nov 2017Fintech progress can't be fought: FPABy Killian Plastow
24 Nov 2017‘Winter is coming’ for PI insurance marketBy Aleks Vickovich
23 Nov 2017NowInfinity appoints new national sales directorBy Staff Reporter
23 Nov 2017Centrepoint creates new 'high performer' networkBy Jessica Yun
- view all