Victorian adviser cops permanent ban

The corporate regulator has banned Murray Graham Davies of Beaumaris, Victoria, a licensed and authorised financial adviser and credit adviser, from providing financial services and from engaging in credit activities.

Mr Davies was a director of Carmel Moriah Holdings, an entity that holds a credit licence, and a corporate representative of Community Broker Network (formally known as National Adviser Services) and Gold Financial.

In addition, Mr Davies was also an authorised representative of Community Broker Network and Gold Financial.

ASIC found that from October to November 2016, Mr Davies:

• back-dated an insurance policy for a factory building after the building had been damaged in a fire;
• lodged an insurance claim for the damage to the factory building and contents and for a vehicle; and
• after lodging the insurance claim for the vehicle, added information to the vehicle insurance policy that increased its insured value.

ASIC has recorded the ban of Mr Davies on its adviser register and has noted his right to appeal to the Administrative Appeals Tribunal for a review of its decision.

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

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