Author Archives: ETE

Nizi Bhandari, of Bundoora, Victoria, has been charged with engaging in dishonest conduct in the course of carrying on a financial services business and providing unlicensed personal financial product advice. Between November 2017 and December 2020, Mr Bhandari was an authorised representative of The Australian Dealer Group Pty Ltd, an Australian financial services (AFS) licensee […]

In proceedings issued by ASIC, the Federal Court has found that Select AFSL Pty Ltd (Select), BlueInc Services Pty Ltd (BlueInc) and Insurance Marketing Service Pty Ltd (IMS) engaged in unconscionable conduct when selling life, funeral and accidental injury insurance. The Court also found that Mr Russell Howden, the managing and sole director of Select […]

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary of dealing with this unauthorised firm and how to protect yourself. Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised […]

On 1 July 2022 Alexander David Securities Limited (ADSL) entered creditors’ voluntary liquidation and Shane Cooks, Emma Sayers and Malcolm Cohen of BDO LLP were appointed as joint liquidators. We set out below the steps ADSL clients can take if they are concerned about any investments arranged or promoted by ADSL or its appointed representatives, […]

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out more about this ‘clone firm’. Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised […]

Speech by Sarah Pritchard, Executive Director, Markets, at the CityUK Annual Conference. Sarah Pritchard, Executive Director, Markets Speaker: Sarah Pritchard, Executive Director, Markets Event: CityUK Annual Conference at The QEII Centre, Westminster Delivered: 30 June 2022 Note: This is a drafted speech and may differ from the delivered version Highlights Underpinning every action we take, […]

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary of dealing with this unauthorised firm and how to protect yourself. Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised […]

On 24 June 2022, financial adviser Tai Thanh Nguyen, of Adelaide, South Australia, was charged with seven counts of alleged falsification of company books following an ASIC investigation. Mr Nguyen operated a financial services business, Financial Wealth Advisers Pty Ltd from around July 2005. From 6 December 2011 to 4 August 2015, Mr Nguyen was […]

ASIC today released the findings from its review of superannuation trustees’ communications with their members following the first annual performance test for MySuper products. The test measures the performance of MySuper products against prescribed benchmarks according to a trustee’s own strategic asset allocation. Report 729 Review of trustee communications about the MySuper performance test (REP […]

On 17 June 2022, Mr Anthony Paul Torre, of Mosman Park, Western Australia, appeared at the Perth Magistrates Court charged with eight counts of fraud and five counts of stealing pursuant to sections 409 and 378 of the Criminal Code (WA). Following an ASIC investigation, it is alleged that between March 2010 and January 2015, […]