ASIC has obtained orders in the NSW Supreme Court against Ross Andrew Hopkins and his firm QWL, freezing their assets and restraining them from providing financial services.
Mr Hopkins, a financial adviser, is sole director of Sydney-based QWL Ltd Pty and QWL Asset Management (together, QWL).
The regulator gained consent orders and undertakings from the court on Monday, limiting Mr Hopkins and QWL from dissipating or diminishing the value of their assets and providing financial services to clients without seeking prior ASIC approval.
ASIC had commenced an investigation in relation to claims that Mr Hopkins and QWL had failed to assist the Australian Financial Complaints Authority (AFCA) to resolve client complaints. The inquiry is still ongoing.
The matter is scheduled to return before the Supreme Court of NSW on 18 November.
The listed financial services group has appointed a new general manager of life...
Advisers should regard technology as a tool to enhance rather than replace the s...
The chair of the House economics committee has referred cases of “quasi-inside...
Get the latest news! Subscribe to the ifa bulletin
Copyright © 2020 Independent Financial Adviser
Get notifications in real time and stay up to date with content that matters to you.
