ASIC bans Victorian financial adviser for three years

Reason:
Misconduct
Content of Penalty:

The Australian Securities and Investments Commission (ASIC) has banned financial adviser Julie Hamilton from providing financial services for three years for failing to act in her clients' best interests.

ASIC found that Ms Hamilton had failed to:

  • make enquiries into her clients' financial circumstances when recommending switching their superannuation and insurance;
  • consider her clients' circumstances when providing advice on superannuation and insurance;
  • give priority to the interests of her clients when providing advice; and
  • disclose fees and charges associated with the implementation of her advice.

Date: 01/12/2017
Link: http://asic.gov.au/about-asic/media-centre/find-a-media-release/2017-releases/17-415mr-asic-bans-victorian-financial-adviser-for-three-years/