ASIC bans financial adviser for five years
The Australian Securities and Investments Commission (ASIC) announced it has banned financial adviser, Darren Tindall, of Orange, NSW, from providing financial services for five years after an investigation found he failed to comply with financial services laws.
Mr Tindall was an authorised representative of Roan Financial Group Pty Ltd between 9 May 2013 and 19 May 2014, and was based in Orange, NSW.
Mr Tindall was banned from providing financial services after ASIC found that he had:
engaged in misleading and deceptive conduct on a client's behalf by failing to disclose their pre-existing medical conditions on an insurance application submitted to an insurer;
- engaged in dishonest conduct by not disclosing the medical conditions in transferring that insurance obtained to a new insurer; and
- recklessly made misleading comparisons about superannuation products to four clients, which induced those clients to switch their superannuation.