The corporate watchdog has permanently banned former financial adviser Neville Allan Kendrick after he made ‘materially misleading statements to induce investors”.
The Australian Securities and Investment Commission handed down the ban on the former Western Australian financial adviser after he acted “dishonestly by making false statements”.
“ASIC also had reason to believe that Mr Kendrick lacks the fitness and propriety, and the training and competence, required to participate in the Australian financial services industry,” ASIC said.
Mr Kendrick – who hasn’t been an authorised adviser since September 2022 – previously held numerous roles in the sector dating back to 2004.
Among those were former roles at Great Southern Securities Pty Ltd, Professional Investment Services Pty Ltd, Jigsaw Support Services Pty and Charter Financial Planning, according to ASIC.
His most recent role was at On Q Securities Pty Ltd from August 2015 and September 2022.
ASIC’s ban against Mr Kendrick came into effect on April 22, under which his is forbidden from providing any financial services.
He’s also banned from being involved in the carrying on of a financial services business and controlling an entity that carries on a financial services business.
ASIC said he had the right to appeal the decision in the Administrative Review Tribunal.
By Business News
