ASIC writes to Sherwin Group clients over ongoing investigation

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ASIC has written to Sherwin Group clients about concerns relating to an ongoing investigation.

The regulator has written to clients of Sherwin Financial Planners Pty Ltd and DIY Superannuation Services Pty to advise them of its concerns in relation to the processing of transactions on Money Market Deposit Accounts held by clients of BOQ. The accounts were managed by BOQ's agent, DDH Graham.

The letter informs the group's clients that ASIC has commenced an investigation into the operation of the accoounts relating to whether BOQ or DDH Graham may have processed transactions they shouldn't have. The letter also tells clients there are steps they may wish to take as soon as possible if they have suffered financial loss, and that they may have a claim for compensation. If clients do have a claim, time limitations will apply, ASIC said.