ASIC bans Brisbane-based financial adviser for five years
The Australian Securities and Investments Commission has banned an authorised representative of WealthSure from providing financial services for five years.
The regulator found that Janeece Norma Giraldo of Raby Bay, Queensland, failed to comply with numerous Australian financial services laws.
According to ASIC, Giraldo engaged in misleading and deceptive conduct; failed to determine the personal circumstances of her clients when giving advice; failed to provide Statements of Advice on providing recommendations concerning financial products; and failed to disclose relevant benefits (including fees and commissions) to her clients.
Giraldo has been a director of WIN Financial Network since 23 August 1993. She has been an authorised representative of WealthSure since 10 October 2008. Between 1 December 2003 and 10 October 2008, she was an authorised representative of Securitor.
Commenting on the case, ASIC commissioner Peter Kell said financial advisers who failed meet their obligations would be "removed from the industry".
Giraldo has the right to appeal to the Administrative Appeals Tribunal for a review of the ASIC decision.
AUTHOR
Staff Writer
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