A former NAB adviser who received a seven-year ban from ASIC has been sentenced in the Melbourne Magistrates Court for forging financial planning documents.
Shane Thompson pleaded guilty to two charges of forging and submitting financial planning documents for personal gain, and was convicted on both counts.
The Magistrates Court fined Thompson an aggregate of $1,000, with $293.30 in costs.
"Consumers should be able to have trust and confidence in their financial advisers,” said AISC deputy chair Peter Kell.
“ASIC will continue to take action against advisers that fall short of community standards."
The charges were brought by ASIC after the regulator found Thompson had falsified 22 ‘change of adviser’ forms and submitted them to MLC in order to transfer his NAB clients to his own personal practice client list without the knowledge or consent of those clients.
Subsequently, Thompson received a seven-year ban from the regulator in February 2016.
FASEA has formally registered a legislative instrument to grant three months' CP...
ASIC has revealed it was forced to take action on more than a dozen incidents of...
The government has flagged it may look at extending regulatory provisions for sc...
Get the latest news! Subscribe to the ifa bulletin
Get notifications in real time and stay up to date with content that matters to you.
