Another adviser expelled over Westpoint
Yet another financial adviser has been banned over his involvement with Westpoint.
ASIC has banned Perth adviser Clinton Gary Reid from providing financial services for six years.
Mr Reid was found to have made misleading and deceptive representations to clients as to the risk of investing in Westpoint. ASIC alleges he also failed to investigate the products he recommended to clients and provided inappropriate advice in relation to Westpoint.
At the time he was working with Brighton Hall Securities, which is now in liquidation.
Mr Reid is the 20th licensed adviser who advised on Westpoint products to be banned.
ASIC has banned Perth adviser Clinton Gary Reid from providing financial services for six years.
Mr Reid was found to have made misleading and deceptive representations to clients as to the risk of investing in Westpoint. ASIC alleges he also failed to investigate the products he recommended to clients and provided inappropriate advice in relation to Westpoint.
At the time he was working with Brighton Hall Securities, which is now in liquidation.
Mr Reid is the 20th licensed adviser who advised on Westpoint products to be banned.