ASIC chalks up another Westpoint ban
ASIC has banned WA financial planner David Liddicoat for three years for misleading clients on investments in collapsed investment company Westpoint.
The regulator found Mr Liddicoat engaged in misleading and deceptive conduct between 2002 and 2003 during employment at Brighton Hall Securities.
It says he provided inappropriate advice to clients, including a claim that investments in Westpoint were safe.
The regulator has banned 11 licensed advisers and two unlicensed advisers since Westpoint’s $320 million collapse in 2006.
The regulator found Mr Liddicoat engaged in misleading and deceptive conduct between 2002 and 2003 during employment at Brighton Hall Securities.
It says he provided inappropriate advice to clients, including a claim that investments in Westpoint were safe.
The regulator has banned 11 licensed advisers and two unlicensed advisers since Westpoint’s $320 million collapse in 2006.