ASIC bans former ANZ adviser
ASIC has banned a former ANZ financial adviser for 18 months, after an investigation found he had engaged in misleading conduct.
Craig Scott Miller was an employed ANZ financial adviser between 2008 and 2015, an ASIC statement said. An investigation by the corporate regulator found that between 2012 and 2014, Mr Miller engaged in conduct that was likely to mislead.
This included signing a client’s name on an ‘authority to proceed’ form and requesting that a client sign a blank ‘authority to provide information’ document. Mr Miller also allegedly altered an ATPI document after it had been signed by a client.
ASIC deputy chairman Peter Kell said: “Financial planners are required to meet stringent compliance standards to protect the interests of their clients and instill confidence in the broader financial advice industry.
“ASIC will ensure advisers who fail to meet these standards are removed from the financial services industry.”
The outcome is a result of ASIC's Wealth Management Project, which was established in October 2014 to lift the standards of major financial advice providers.
The project focuses on the conduct of the largest financial advice firms (NAB, Westpac, CBA, ANZ, Macquarie and AMP).
Class action filed over grandfathered commissions
Major law firm Slater and Gordon has today filed a class action on behalf of 500...
AFSL forced to shut down robo-advice tool
A Sydney-based licensee has voluntarily shut down two digital advice tools follo...
Closing advice gap on ASIC’s radar for 2020
ASIC chair James Shipton says he is “acutely aware” of the growing shortfall...