ASIC bans father and son adviser team
ASIC has banned a former Melbourne adviser and his son from providing financial services for six years and three years respectively.
The regulator says it has established that in November 2005, Ian Bristow transferred client investments into Westpoint mezzanine products prior to providing financial advice and without clients’ authority.
He and his son Mathew are alleged to have operated unregistered management investment schemes and to have breached earlier ASIC undertakings.
Ian Bristow was the principal director of a financial planning company, Money Matters Financial Solutions, which is now in liquidation.
Seventeen licensed advisers and three unlicensed advisers involved in Westpoint products have now been banned by the regulator.
The regulator says it has established that in November 2005, Ian Bristow transferred client investments into Westpoint mezzanine products prior to providing financial advice and without clients’ authority.
He and his son Mathew are alleged to have operated unregistered management investment schemes and to have breached earlier ASIC undertakings.
Ian Bristow was the principal director of a financial planning company, Money Matters Financial Solutions, which is now in liquidation.
Seventeen licensed advisers and three unlicensed advisers involved in Westpoint products have now been banned by the regulator.