Advice firm charged with anti-hawking offences

National Advice Solutions appeared before the court on Monday, 21 March, charged with 11 offences of offering to issue or sell a financial product via unsolicited phone calls.

ASIC alleged that the firm made cold calls to 11 consumers between August 2019 and June 2020 and encouraged them to move their superannuation into different products.

At the time of the alleged offence, the maximum penalty was $133,200 per breach. Though there were changes to the anti-hawking regime on 5 October last year, the charges are brought under the previous anti-hawking provisions given the alleged offences took place before that date.

The matter, which is being prosecuted by the Commonwealth Director of Public Prosecutions, has been listed for a mention hearing on 16 May 2022.

National Advice Solutions have been contacted for comment.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

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Neil is also the host of the ifa show podcast.