Sydney adviser receives permanent ban

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ASIC has permanently banned Joshua John Doyle, of Bradbury New South Wales, from providing financial services after he was convicted of serious fraud offences.

Between September 2010 and September 2011 Doyle carried out unauthorised share trading using a client's Macquarie Bank share trading account. Doyle then sold down the client's shares without her knowledge, transferred the proceeds to the client's cash management account, before transferring those funds to his own account using forged authorities.

As a result, he obtained approximately $173,000 to which he was not entitled.

In late 2011, Doyle was charged by NSW Police with a number of fraud offences. He pleaded guilty in the NSW Local Court to dishonestly obtaining a financial advantage. In August 2012, he was sentenced to jail for 18 months, which was suspended on condition that he enter into a good behaviour bond.

Doyle was employed by Gateway Financial Advisors Pty Ltd, a corporate authorised representative of Titanium Planners Pty Ltd. He was also an authorised representative of Titanium Planners Pty Ltd from December 2009 to September 2011.

“ASIC will continue to take action to remove from the financial services industry those who break financial services laws and breach the trust of consumers,” Deputy Chairman Peter Kell said.

Since 1 January 2013, ASIC has banned twelve advisers from the financial services industry and of these, seven have been permanent bannings.

  • HP James on 8/07/2013 2:35:24 PM

    ..and what of the Licensee?

  • Merv Gay on 8/07/2013 1:22:45 PM

    Well, As I've said before...If he'd signed the Best Interests Duty and sent out a few FDS's this would not have happened.. Lord Save Us - Merv Gay

  • Matt on 8/07/2013 12:00:27 PM

    It is advisers like this that have caused the admin nightmare that decent advisers must endure today. How can you steal $173k and not be in jail !!!

  • Martin on 8/07/2013 11:54:58 AM

    He was charged with "dishonestly obtaining a financial advantage" Is that what theft is called now?

  • Tim on 8/07/2013 11:49:34 AM

    18 month suspended sentence is a joke!! This piece of s#*t should get some serious jail time!

  • Merv Gay on 9/07/2013 8:00:16 AM

    Well, the Licensee is treated like a Publican now. If a man's drunk on your premises that's your fault.The sooner society moves to a regime that if "do it - you wear it' the better off we'll all be. (Unless of course the Licensee or Publican is blatantly complicit)...Merv Gay

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