ASIC permanently bans licensee employee
ASIC has permanently banned a former AFSL employee after the regulator became aware the man was convicted in 2014 of numerous counts of fraud and related offences.
In a statement, the regulator said Nicolai D'Lamartin of Rosebery, NSW was convicted of several charges such as impersonating persons, creating and using false documents to gain a financial advantage, larceny and using and possessing other people's identification information.
He was sentenced to an aggregate term of imprisonment of three years, which commenced on 21 November 2012 with a non-parole period of 20 months.
Mr D'Lamartin's convictions came to ASIC's attention while the regulator was investigating the conduct of an AFSL holder in late 2015. ASIC did not name which licensee Mr D'Lamartin worked for.
He has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.
ASIC deputy chair Peter Kell said: "Banning unscrupulous operators like Mr D'Lamartin will ensure customers can have trust and confidence in the financial services industry."
Financial coaching a potential ‘saving grace’ for advice
A trend of experienced advisers moving to financial coaching of new entrants rat...
ANZ falls in line with enforceable undertaking
The corporate regulator has announced that ANZ has complied with its court enfor...
Lonsec hires wealth management sales head
Research house Lonsec has brought on a new head of wealth management sales in re...