Banned financial advisers
Dear Australian Securities and Investments Commission,
I have spoken to a number of Australians who have lost millions to financial advisers who have acted inappropriately with their funds.
This includes financial advisers who have been full-time employed by a financial advice firm, and financial advisers who act independently.
I would like to know how many financial advisers ASIC has investigated in the past year, how many of those resulted in a ban, and exactly how many current investigations into the professional behaviour of financial advisers remain open right now?
Also, how long does an investigation tend to take, and what does the process of an investigation entail? Do you speak to victims who have lost money in the process of an investigation?
Yours faithfully,
Nina Hendy
Dear Ms Hendy
I refer to your request dated 4 June 2024 under the Freedom of Information
Act 1982 (FOI Act) in which you seek access to documents in the possession
of the Australian Securities and Investments Commission (ASIC).
Please find attached letter.
Kind regards
Shoumia Nithiananthan
Lawyer, FOI & Privacy
Legal Services
Australian Securities and Investments Commission
Level 5, 100 Market Street, Sydney NSW 2000
Tel: 9911 2454 [mobile number]
[1][email address]
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refer to our [3]Privacy Policy for information about how we handle your
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References
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1. mailto:[email address]
3. https://asic.gov.au/privacy/
Dear Ms Hendy
I refer to your request dated 4 June 2024 under the Freedom of Information
Act 1982 (FOI Act) in which you seek access to documents in the possession
of the Australian Securities and Investments Commission (ASIC).
Please find attached Notice of decision and document for release.
Kind regards
Shoumia Nithiananthan
Lawyer, FOI & Privacy
Legal Services
Australian Securities and Investments Commission
Level 5, 100 Market Street, Sydney NSW 2000
Tel: 9911 2454 [mobile number]
[1][email address]
[2]ASIC logo
Please consider the environment before printing this document.
Information collected by ASIC may contain personal information. Please
refer to our [3]Privacy Policy for information about how we handle your
personal information, your rights to seek access to and correct
your personal information, and how to complain about breaches of your
privacy by ASIC.
This e-mail and any attachments are intended for the addressee(s) only and
may be confidential. They may contain legally privileged, copyright
material or personal and /or confidential information. You should not
read, copy, use or disclose the content without authorisation. If you have
received this email in error, please notify the sender as soon as
possible, delete the email and destroy any copies. This notice should not
be removed.
References
Visible links
1. mailto:[email address]
3. https://asic.gov.au/privacy/