A Gold Coast-based former authorised representative of Sentry Financial Planning, Equanimity Concepts, has been fined over $30,000 by ASIC for false or misleading advertising.
In a statement issued by ASIC, the regulator said Equanimity – which entered into an enforceable undertaking in November 2014 and is described as a “financial planning and property management company” by the regulator – has been penalised $30,600 for misleading advertisements across a series of platforms.
“The ads for financing options for home loans ran on Equanimity’s website, on YouTube, in in-flight magazines for Qantas, Jetstar and Virgin, and in police journals for more than two years,” the statement from ASIC said.
“ASIC was concerned the company could have misled consumers into thinking that if they borrowed with Equanimity, they would be helped to repay their home loan in a reduced time frame without incurring further debt,” it said.
The company entered into an EU after an investigation found potentially misleading advertising regarding financing options for home loans.
Sentry revoked the company's authorisation in March 2014.
The large failures grab all the headlines, but CSLR chief executive David Berry has explained failures “don’t need to be ...
A new NAB Professional Services report has argued that succession planning is an underrated “key to growth” in ...
Just a week after signalling that bans related to the Shield Master Fund were imminent, ASIC has announced action ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin