The Administrative Appeals Tribunal has set aside a decision by ASIC to ban a Perth financial adviser from providing any financial services.
Robert Hutchison of Lower Chittering, Western Australia, a former financial adviser and authorised representative of RI Advice Group (RI Advice), was permanently banned from providing financial services on 11 June 2017.
On 7 September 2017, the AAT granted a stay of ASIC’s decision until the tribunal made its final decision.
The AAT delivered its final decision on 18 September 2018 following Mr Hutchison’s application for review. The AAT found that Mr Hutchison did not engage in dishonest conduct or misleading or deceptive conduct for the purposes of sections 1041G and 1041H of the Corporations Act.
ASIC said it is considering the AAT decision.
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