Date Time ASIC bans Hobart adviser for four years ASIC has banned Hobart-based financial adviser Hannah Jennings from providing financial services, carrying on a financial services business and controlling an entity that carries on a financial services business for four years. ASIC found that Ms Jennings failed to act in the best interests of her clients by providing advice that was inappropriate in light of her clients’ relevant personal circumstances. ASIC reviewed advice provided by Ms Jennings which recommended clients continue with double gearing strategies despite knowing that clients struggled to service the borrowing arrangements. In providing this advice, Ms Jennings had no regard to the clients’ relevant personal circumstances, their cash flow position or their ability to cover margin calls. Ms Jennings also failed to consider an exit strategy for her clients as well as appropriate personal insurance cover.