The corporate regulator has announced it banned former Suncorp adviser Robert Gunner for creating false insurance application forms and statements of advice.
In a statement today, ASIC said Mr Gunner was an employed representative of the Suncorp-owned advice business GuardianFP from 15 February 2013 to 4 May 2016.
Between January 2014 and February 2016, Mr Gunner had assisted clients to access their superannuation by advising them to acquire multiple insurance policies through their superannuation, ASIC said.
Upon receiving commission from the issuer of the insurance, Mr Gunner paid those commissions to the client less his own expenses, the statement said.
In doing this, Mr Gunner created insurance application forms, client file notes, client profiles and SOAs that contained false information.
ASIC deputy chair Peter Kell said, “ASIC is determined to ban financial advisers who deliberately breach the law from the financial services industry.”
Mr Gunner has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 21 Aug 2017Advisers key to ‘living the dream’: FPABy Staff Reporter
- 21 Aug 2017US IFA history repeats itself in AustraliaBy Killian Plastow
- 21 Aug 2017Licensees need greater scrutiny, PJC hearsBy Larissa Waterson
- 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
- view all