ASIC bans ex-bank adviser

ASIC has banned a former authorised representative of a major bank from financial services for eight years, after an investigation found she falsified a number of documents.

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by Reporter - May 06, 2021 5 comments

In a statement, the regulator said ex-ANZ adviser Lisa Lee had allegedly falsely witnessed binding nomination of beneficiary forms for 17 clients, backdated documents, and falsified a client’s signature on documents.

Ms Lee had been an authorised representative of the bank from 2010 to 2017, and had been licensed under Infocus Securities from 2017 to 2019.

ASIC said Ms Lee had appealed to the Administrative Appeals Tribunal for a review of the regulator’s decision.

“Financial advisers must act with honesty and integrity in their dealings with clients,” ASIC said.

“ASIC may ban a financial adviser if it has reason to believe that they are not of good fame or character or likely to fail to comply with the financial services law.”