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Regulator slaps ex adviser with four-year ban Regulator slaps ex adviser with four-year ban The corporate regulator has banned a former aligned adviser from providing financial services for four years after he allegedly provided misleading information to fund members around super rollovers. A A In a statement, ASIC said it had banned former Aon Hewitt Financial Advice representative Andrew Hills following surveillance from 2014 to 2017 that found Mr Hills had allegedly authorised misleading letters to be issued to Aon Master Trust members. The letters related to the transition to Aon MySuper...

Print Former Aon Hewitt authorised representative Andrew Hills has been banned by the Australian Securities and Investments Commission (ASIC) for four years for allowing misleading and inaccurate letters about MySuper opt-outs to be issued to some Aon Master Trust members. The banning followed surveillance between 2014 and 2017 by the corporate regulator which contravened section 1041H of the Corporations Act. ASIC found that: The letters contained incorrect information, like the past performance of Aon MySuper and the timing of when members would transition to MySuper; The letters omitted ...