ASIC announced that it has banned a Sydney-based financial adviser, Tarandeep Aujla, because he failed to act in his clients’ best interests.
Aujla was an authorised representative of Australian financial services (AFS) licensees Infocus Securities Australia and Chaucer Group.
ASIC has found that Aujla did not obtain adequate information from clients about their personal circumstances including financial details, needs and objectives.
ASIC’s efforts to improve standards across the financial services industry continue. The banning of Aujla will be recorded on ASIC’s publicly available Financial Advisers Register and Banned and Disqualified Persons Register.
ASIC bans NSW financial adviser for three years was first posted on August 15, 2019 at 11:08 am.