{"id":46087,"date":"2019-08-27T22:11:28","date_gmt":"2019-08-27T12:11:28","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=46087"},"modified":"2019-08-28T07:23:34","modified_gmt":"2019-08-27T21:23:34","slug":"queensland-adviser-banned","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2019\/08\/27\/queensland-adviser-banned\/","title":{"rendered":"Queensland Adviser Banned"},"content":{"rendered":"

ASIC has banned Bundaberg-based financial adviser Peter Goudie<\/strong> from providing financial services for four years.<\/p>\n

\"\"<\/a>
ASIC Commissioner, Danielle Press …failing to provide the necessary advice documentation to clients is a serious breach of the law<\/figcaption><\/figure>\n

The regulator found Goudie \u201c\u2026failed to comply with financial services laws including the requirement to comply with the best interests duty and to prioritise his clients\u2019 interests.\u201d<\/p>\n

This finding stems from an ASIC surveillance of Goudie\u2019s activities when he was an authorised representative of Risk and Investment Advisors Australia Pty Ltd and National Australia Bank-owned GWM Adviser Services Pty Ltd.<\/p>\n

When providing personal advice, according to ASIC, Goudie \u201c\u2026did not adequately identify his clients\u2019 objectives, financial situation and needs or investigate whether the financial products he was recommending would meet their needs.\u201d<\/p>\n

ASIC noted the adviser also failed to give a number of his clients a Statement of Advice and that in all circumstances where his advice was not in the best interests of his clients, it was found that Goudie gave priority to generating fees and commissions for himself.<\/p>\n

ASIC Commissioner, Danielle Press<\/strong> said, \u201cAssessing client needs and providing a clear Statement of Advice are critical parts of the advice process. Advisers must remember that failing to provide the necessary advice documentation to clients is a serious breach of the law.\u201d<\/p>\n

Goudie has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC\u2019s decision.<\/p>\n","protected":false},"excerpt":{"rendered":"

ASIC has banned Bundaberg-based financial adviser Peter Goudie from providing financial services for four years.<\/p>\n","protected":false},"author":3,"featured_media":46115,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[4247],"class_list":["post-46087","post","type-post","status-publish","format-standard","has-post-thumbnail","category-compliance-regulation","tag-feature"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/46087","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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=46087"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/46087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/46115"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=46087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=46087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=46087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}