ASIC bans Victorian adviser for two years
The Australian Securities and Investments Commission (ASIC) has banned a former Goldman Sachs JB Were employee from providing financial advice for five years for an offence committed in October 2004.
Callen Jeffrey Soffer was employed by the Goldman Sachs JB Were Group at the time he committed an offence relating to obtaining property by deception, involving an unauthorised transaction of $100,000.
Soffer, from Caulfield South, Victoria, was banned following concerns by ASIC that he posed a risk to the public and would not act with honesty and integrity.
He was convicted on February 3, 2006, and ordered to serve a community-based order for a period of two years.
ASIC was notified of the issues by Goldman Sachs JB Were, which cooperated fully with the regulator’s enquiries.
Soffer has the right to lodge an application for review of the decision with the Administrative Appeals Tribunal.
AUTHOR
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
