Former advice director convicted

insurance/financial-advice/

15 June 2015
| By Jassmyn |
image
image
expand image

A former director of a financial advice company has been sentenced to 12 months imprisonment for dishonest conduct.

South Australian, Barry David Hassell, a former director of BD & WJ Hassell, pleaded guilty to 39 charges at a hearing of Adelaide Magistrates Court in October 2014.

The charges included dishonest conduct, providing the Australian Securities and Investments Commission (ASIC) with false or misleading information, and failing to provide a disclosure document to clients between March 2002 and December 2011.

Hassell admitted to the following charges:

  • four counts of providing ASIC with false or misleading information, including the provision of clients' files containing forged documents;
  • 10 counts of engaging in dishonest conduct, including submission to insurers of applications for insurance that contained false information; and
  • 25 counts of failing to provide a disclosure document to his clients.

Hassell was sentenced to 12 months imprisonment, but was to be released on his own recognisance of $100, to be of good behaviour for a period of 12 months.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 5 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 3 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND