ASIC bans former ANZ adviser for 5 years
ASIC has banned a former ANZ financial adviser for five years after finding he had engaged in misleading and deceptive conduct.
According to a statement, Andrew TambyRajah was an employee with ANZ Financial Planning at Hurstville between 19 January 2006 and 30 July 2014.
ASIC said it found Mr TambyRajah had engaged in misleading and deceptive conduct by creating false documents and falsely amending documents contained on client files.
This included writing clients’ names and initials on documents in the places designated for their signatures and initials; changing the dates recorded on a number of documents; and creating false investor profile forms for two clients by photocopying forms they had signed in previous years and changing the dates on the copied documents.
ASIC deputy chairman Peter Kell said, “Financial advisers are important gatekeepers who must act honestly to increase broader public confidence in the financial services industry.
“This banning should serve as a deterrent to any financial adviser tempted to act dishonestly.”
Mr TambyRajah has the right to seek a review of ASIC’s decision to the Administrative Appeals Tribunal.
Industry unites on model portfolio data standards
More than 20 organisations from across the financial planning industry have coll...
State Street ETF portfolios available on platform
Advisers can now access a new suite of exchange-traded fund model portfolios fro...
FASEA reveals course and diploma approvals
The Financial Adviser Standards and Ethics Authority has confirmed it has approv...