A former Charter Financial Planning adviser has been permanently banned from trading, and a senior KPMG manager has been jailed, following investigations by the Australian Securities and Investments Commission (ASIC).<\/p>\n
<\/p>\n
Robert Bean<\/strong>, from St Peters in South Australia, an authorised representative of Charter Financial Planning, was found to have defrauded his clients of more than $3 million over a period of seven years.<\/p>\n Between June 2003 and June 2010, Mr Bean misappropriated the money from eight of his clients’ investment and superannuation accounts.<\/p>\n Mr Bean’s actions were brought to the attention of ASIC by Charter Financial Planning, which has issued compensation to all clients affected by the misconduct.<\/p>\n Mr Bean has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.<\/p>\n In other news, a former senior manager from accounting firm KPMG was sentenced to two years imprisonment for insider trading on Friday, 20 May 2011.<\/p>\n Andrew Dalzell<\/strong> was sentenced to an Intensive Correction Order, following an investigation by ASIC into Mr Dalzell’s actions while working as a corporate adviser with KPMG. Mr Dalzell will serve his sentence in the community under the strict supervision of Corrective Services NSW, and must comply with the supervisor’s directions and other conditions throughout the two year period of the sentence.<\/p>\n In sentencing Dalzell, Justice Hall<\/strong> said: “A term of imprisonment served under an Intensive Correction Order is a significant sentence and more onerous than a suspended sentence.”<\/p>\n","protected":false},"excerpt":{"rendered":" A former Charter Financial Planning adviser has been permanently banned from trading, and a senior KPMG manager has been jailed, following investigations by the Australian Securities and Investments Commission (ASIC).<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10583","post","type-post","status-publish","format-standard","category-compliance-regulation"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/10583","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=10583"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/10583\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=10583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=10583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=10583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}