Opalesque Industry Update - ASIC has banned Mr Geoffrey Woodcock of Auckland, New Zealand, from providing financial services for a period of four years. Between November 2011 and October 2013, Mr Woodcock was the founder and manager of Capital Alternatives Pty Ltd and a director of Velvet Assets Pty Ltd. Both of those companies promoted alternative investments in Australia. However, Capital Alternatives, Velvet Assets and Mr Woodcock were not holders of Australian financial services (AFS) licences. They were also not authorised representatives of a licensee. Following an investigation, ASIC found:
Commissioner Greg Tanzer said, "The Australian financial services licensing regime provides safeguards. Consumers should not invest with a person or entity in Australia unless they are authorised by, or hold, an AFS licence." Mr Woodcock has the right to appeal to the Administrative Appeals Tribunal (AAT) for a review of ASIC's decision. Article source - Opalesque is not responsible for the content of external internet sites |
Industry Updates
Australian regulator bans alternative investment spruiker for four years
Friday, September 16, 2016
|
|