ASIC permanently bans Macquarie adviser

Warren Scott Acworth was banned following an investigation into his conduct between December 2015 and May 2018 while working as an adviser with Macquarie Equities Limited, according to a statement from ASIC.

Mr Acworth misrepresented to his client the value of the client’s portfolio on 19 separate occasions, engaged in trading without the proper authority of the client, and transferred $185,000 between the client’s accounts without authority.

Based on his conduct, ASIC also found Mr Acworth is not of good fame and character to provide financial services.