ASIC bans Queensland financial adviser from financial services industry
Australia
- 03/2/2018
- Suspension
- Australian Securities and Investments Commission
Detail
An ASIC investigation found that between 2008 and 2016 Mr Connor used clients' assets as security for his margin loan and borrowed client funds.
The investigation found that Mr Connor:
- took advantage of his trusted position as an independent financial adviser;
- used clients' assets for his personal benefit;
- engaged in conduct which could have caused clients to suffer significant losses; and
- resorted to deceptive conduct and sought to conceal the security and loan arrangements from Lonsdale.
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