ASIC accepts EU from former Storm Financial authorised rep
Former Storm Financial authorised representative James Mousa has agreed to an enforceable undertaking following an investigation by the Australian Securities and Investments Commission (ASIC).
ASIC accepted the EU from Mousa, who is the manager of BDO Private Wealth, following an investigation into his activities between 10 August 2007 and 23 August 2012.
The regulator was concerned that Mousa did not demonstrate a reasonable basis for some of the advice he provided, and failed to determine the risk tolerance of clients.
Under the EU, he has undertaken to complete professional development courses within six months and to submit to a regime of supervision, audit and review by an independent senior financial planner for two years.
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