Australia

10/13/2017

Suspension

Australian Securities and Investments Commission

Detail

The Australian Securities and Investments Commission (ASIC) has banned financial adviser Drew Grosskreutz from providing financial services for three years.

ASIC found thatMr Grosskreutz advised clients to establish self-managed superannuation funds (SMSF) to purchase properties using a limited recourse borrowing arrangement without considering if this was in their best interests.

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http://asic.gov.au/about-asic/media-centre/find-a-media-release/2017-releases/17-346mr-queensland-financial-adviser-banned-for-failing-to-act-in-clients-best-interests/

ASIC has banned financial adviser Drew Grosskreutz

Australia

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Related Penalties

Steven Andrew Soong, of Concord New South Wales, has been banned by ASIC from managing corporations for three and a half years.

ASIC has banned Queensland financial adviser Gerald Grubwinkler

ASIC has banned financial adviser Lawrence Toledo from providing financial services for seven years.

ASIC bans Perth advisor for five years

ASIC bans former Westpac and NAB financial adviser

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