The financial regulator in Australia has banned a former employee of ANZ Financial Planning from providing financial services for a period of five years.
Andrew TambyRajah of Sydney, New South Wales was a financial planner with ANZ Financial Planning at Hurstville between 19 January 2006 and 30 July 2014.
The Australian Securities and Investments Commission (ASIC) found that he engaged in misleading and deceptive conduct by creating false documents and falsely amending documents contained on client files.
Created False Profiles
The conduct included writing clients' names and initials on documents in the places designated for their signatures and initials.
TambyRajah also changed the dates recorded on a number of documents and created false investor profile forms for two clients by photocopying forms they had signed in previous years and changing the dates on the copied documents.
Banning Should Serve as a Deterrent
«Financial advisers are important gatekeepers who must act honestly to increase broader public confidence in the financial services industry, this banning should serve as a deterrent to any financial adviser tempted to act dishonestly,» said Peter Kell, ASIC Deputy Chairman.
