ASIC bans former adviser for falsifying documents
Sydney-based former financial adviser, Lisa Lee, has been banned from providing financial services for eight years by the Australian Securities Investments Commission (ASIC) for falsifying documents.
ASIC found when Lee was a representative of ANZ, she falsely witnessed binding nomination of beneficiary forms for 17 clients, backdated documents, and falsified a client’s signature on documents.
Lee was a representative of ANZ between 5 June, 2010, and 15 June, 2017, and then worked at Infocus Securities Australia between 19 September, 2017, and 19 November, 2018.
Lee’s banning had been recorded on ASIC’s Financial Adviser Register (FAR) and the Banned and Disqualified Persons Register.
She had the right to appeal to the Administrative Appeals Tribunal.
AUTHOR
Chris Dastoor
Recommended for you
With regional and rural suburbs exhibiting high spare capacity to invest, Money Management speaks to three regional advisers on the opportunities beyond the major cities and the importance of a strong network.
Platform consolidation is expected to accelerate among financial advisers this year, as software company Finura pinpoints which two platforms are set to be the winners, thanks to this trend.
The software provider has made several appointments in its APAC wealth propositions team, with a focus on driving growth across digital advice, Xplan and strategic partnerships.
The platform has announced it plans to close its Xplore managed discretionary account service in 2026 which holds $2 billion in funds under administration.
