The corporate regulator has banned Murray Graham Davies of Beaumaris, Victoria, a licensed and authorised financial adviser and credit adviser, from providing financial services and from engaging in credit activities.
Mr Davies was a director of Carmel Moriah Holdings, an entity that holds a credit licence, and a corporate representative of Community Broker Network (formally known as National Adviser Services) and Gold Financial.
In addition, Mr Davies was also an authorised representative of Community Broker Network and Gold Financial.
ASIC found that from October to November 2016, Mr Davies:
- back-dated an insurance policy for a factory building after the building had been damaged in a fire;
- lodged an insurance claim for the damage to the factory building and contents and for a vehicle; and
- after lodging the insurance claim for the vehicle, added information to the vehicle insurance policy that increased its insured value.
ASIC has recorded the ban of Mr Davies on its adviser register and has noted his right to appeal to the Administrative Appeals Tribunal for a review of its decision.
If only asic were as agreesive with the big end of town.
Won’t purge anyone and will continue to occur irrespective of qualifications and/or experience. The nature of fear and greed.
I’m going to guess that an Ethics course would not have changed this outcome….
Maybe he was too bogged down in compliance, red tape, checking out his FASEA stuff, running a business, talking about stock market crashes…..selling insurance….writing loans….. and left a half completed general insurance application sitting in a file and the building burned down. Just saying….
After 2024 when all ARs are properly educated, NONE of this sort of thing will ever happen again. We can be quite certain of this!
Who is kidding who? The Devil will continue to get recruits who will break laws and ignore ethics and client best interests!
wheres the criminal charges?
It won’t purge dodgy people. Just the less qualified dodgy people
Obviously this guy is a dodgy general insurance salesman who calls himself a planner because he flogs some life cover and probably super with little real knowledge. Hopefully this FASEA and education requirements will purge these scum and ‘jack of all trade’ types altogether, as 9 times out of 10 they don’t properly service their client base anyway.