The corporate regulator has banned a former ANZ adviser for 10 years after it was found he had contravened financial services laws.
Former ANZ authorised representative Ben Cheung of Epping, NSW has been banned from providing financial services after an investigation by the regulator found he had engaged in misleading and deceptive conduct.
According to ASIC, between April 2013 and March 2014 Mr Cheung forged client signatures, created false bank documents and created other false documents such as Nil Advisory Service forms.
ASIC deputy chair Peter Kell said "cracking down" on behaviour like this goes to the "heart of maintaining consumer trust and confidence".
"The banning of Mr Cheung demonstrates ASIC's Wealth Management Project is identifying and tackling this kind of fraudulent behaviour," he said.
Mr Cheung has appealed to the administrative appeals tribunal for a review of the decision, a statement from ASIC said.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 18 Aug 2017ASIC permanently bans former AMP adviserBy Staff Reporter
- 18 Aug 2017IRESS announces first half resultsBy Jessica Yun
- 18 Aug 2017Banks the key to closing advice gap, Tria saysBy Larissa Waterson
- 18 Aug 2017Adviser ethics certification launchedBy Staff Reporter
- 18 Aug 2017Banks evade FOFA, industry funds claimBy Larissa Waterson
- 16 Aug 2017UBS appoints head of wholesale distributionBy Staff Reporter
- view all