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
- 19 Oct 2018Life insurer fires 50, kills outbound sales businessBy James Mitchell
- 19 Oct 2018Strategic plan for AFCA releasedBy Eliot Hastie
- 18 Oct 2018Clique Paraplanning launches practice portalBy Reporter
- 18 Oct 2018Challenger announces new Netwealth dealBy James Mitchell
- 18 Oct 2018Aussies say royal commission won’t change their view of adviceBy James Mitchell
- 18 Oct 2018Hire younger advisers to get younger clients, paper suggestsBy Adrian Flores
- view all