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ASIC bans adviser for disregarding client circumstances

1 minute read object(stdClass)#18701 (8) { [ image intro ]=> string(50) images/articleimages-391x261/850x492/asic-ad-1.jpg [ float intro ]=> string(0) [ image intro alt ]=> string(55) ASIC bans adviser for disregarding client circumstances [ image intro caption ]=> string(0) [ image fulltext ]=> string(0) [ float fulltext ]=> string(0) [ image fulltext alt ]=> string(0) [ image fulltext caption ]=> string(0) } John Buckley A A ASIC has banned Hannah Jennings of Hobart, Tasmania, from providing financial services, carrying on a financial services business, and controlling an entity that carries on a financial services business for four years, effective from 1 April. Advertisement ); googletag.cmd.push(function() { googletag.display( div-gpt-ad-1606778434582-0 ); }); } Advertisement Ms Jennings was found to have failed to act in the bes ....

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ASIC bans Hobart adviser for four years


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. ....

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