Following an ASIC investigation, a former NAB adviser has been charged with falsifying client documents.
In a statement today, ASIC said Shane Thompson, of New Gisborne, Victoria, has appeared in the Bendigo Magistrate's Court on two charges that he forged financial planning documents.
ASIC alleges that between 27 December 2012 and 1 March 2013, Mr Thompson completed 22 false client change of adviser forms and submitted them to MLC Ltd to transfer National Australia Bank (NAB) clients to his personal financial planning client list.
ASIC alleges that Mr Thompson forged client signatures on each form and undertook this process without clients' knowledge or authorisation so that he could receive additional financial planning remuneration from his employer, NAB.
At a hearing on 31 July 2017, the matter was adjourned for a plea hearing in the Melbourne Magistrate's Court on 26 October 2017.
The Commonwealth Director of Public Prosecutions (CDPP) is prosecuting the matter.
Mr Thompson was employed by NAB as a financial planner during the time the alleged misconduct took place.
Mr Thompson has been charged under sections 83A(1) and 83A(2) of the Crimes Act 1958 (Vic). The maximum penalty for each offence is 10 years' imprisonment.
ASIC has previously banned Mr Thompson from providing financial services and credit activities for seven years.
This outcome is a result of ASIC's Wealth Management Project. The Wealth Management Project was established in October 2014 with the objective of lifting standards by major financial advice providers.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 18 Feb 2019ASIC appeals Westpac best interests court decisionBy Adrian Flores
- 18 Feb 2019FASEA mostly funded by the major banksBy Adrian Flores
- 15 Feb 2019ASIC to undertake harsher penalties against banksBy Eliot Hastie
- 18 Feb 2019NAB most distrusted bank, survey findsBy Sarah Simpkins
- 15 Feb 2019Court restrains unlicensed firm from operatingBy Adrian Flores
- 15 Feb 2019ASIC used Dover whistleblowing to shut licensee downBy Adrian Flores
- view all