FINANCIAL advisor Darren Tindall will challenge the Australian Securities and Investment Commission (ASIC) in court after it banned him from providing financial services for five years.
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The Australian Appeals Tribunal (AAT) will hold a directions hearing on Tuesday.
According to a statement from ASIC, an investigation found Mr Tindall failed to disclose a client’s pre-existing medical conditions on an insurance application submitted to an insurer, did not disclose the conditions in transferring the insurance to a new insurer and made misleading comparisons about superannuation products to four clients, which led to those clients to switch.
Mr Tindall applied to the AAT in January for a stay of the banning and a review of the decision but it was refused.
He is allowed to continue running PWM (Protect What Matters) Advice, but cannot issue advice.
Mr Tindall said he remained positive and the business would continue to serve its 470 clients.
An earlier version of this article incorrectly referred to PMW, instead of PWM, due to a typographical error. We would like to confirm that PMW (Pigot Miller Wilson Accountants and Advisors) had no involvement in the events reported and Darren Tindall is a director of PWM (Protect What Matters) Advice.
Danielle Cetinski
Danielle started at the Kiama Independent in 2010 before moving to the Central Western Daily in 2014. She covers council, court, politics, general news and business, and elections are her favourite time of the year. Got a tip? Email danielle.cetinski@centralwesterndaily.com.au
Danielle started at the Kiama Independent in 2010 before moving to the Central Western Daily in 2014. She covers council, court, politics, general news and business, and elections are her favourite time of the year. Got a tip? Email danielle.cetinski@centralwesterndaily.com.au
