Client relationship manager banned from providing financial services
The Australian Securities and Investments Commission (ASIC) has banned Paul Anthony Davis of Taringa, Queensland, from providing financial services as a result of convictions for fraud related charges.
Davis was convicted in Brisbane Magistrates Court on eight charges relating to fraud that was committed as a client relationship manager and administrator at financial services group Tynan Mackenzie. The charges totalled $14,311.80.
Davis can apply for a review of ASIC's decision to the Administrative Appeals Tribunal.
Recommended for you
Financial Services Minister, Stephen Jones, has assured the cost and time to enter the financial advice profession will soon be halved, as shadow treasurer Angus Taylor pledges to reach 30,000 advisers.
The positive results of the latest financial adviser exam have helped the advice profession reach 15,600 yet again, according to Wealth Data analysis.
Financial advice firms have told Adviser Ratings they are planning to increase their compliance spend by almost a third, including on enhancements to their cyber security which ASIC has identified as an enforcement priority.
The digital advice platform is officially launching into the financial advice sector, offering up its services to practices as a means of engaging with the next generation of clients.