Sydney adviser banned by ASIC over conduct concerns
A Sydney-based financial adviser has been banned from providing financial services after failing to act on conduct concerns.
John Hazell was an authorised representative of Richmond Partners Pty in Sydney from 1 March 2018 to 16 May 2024.
He had previously been registered with the Tax Practitioners Board (TPB) as a tax (financial) adviser on 15 June 2015 until his registration was terminated by the TPB effective 8 March 2023 for ceasing to meet registration requirements.
ASIC had identified that, in his dealing with the TPB, Hazell made misleading statements in order to retain his TPB registration and he continued to provide professional services to retail clients when he was unable to manage his own financial tax affairs.
He also failed to reasonably engage with a professional body when conduct concerns were identified.
As a result of these concerns, ASIC said it believes Hazell is likely to contravene his obligations as a financial adviser and, in the interests of consumer protection, imposed a banning period of two years.
Under the banning, Hazell is prevented from providing financial services, performing one or more functions as an officer of an entity that carries on a financial services business, and controlling an entity that carries on a financial services business.
It will be recorded on the Financial Advisers Register (FAR) and the Banned and Disqualified Person register.
AUTHOR
Laura Dew
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