ASIC takes two more financial scalps
The Australian Securities and Investments Commission banned another two securities operators on July 8. ASIC has now banned a total of 29 operators over the past year for various periods. They include financial advisers, stockbrokers and securities dealers.
ASIC's actions can include “show cause” notices, in-camera hearings and bans. It takes action for a variety of reasons, including dishonesty, giving improper financial advice, not dealing fairly with clients and failing to keep proper records.
On July 8, Hamish Philip Watson of Harts was banned for three years and Credit Suisse First Boston Australian Equities' Jonathan Rabinovitz for 18 months.