ASIC permanently bans former financial planner 

ASIC_regulator

ASIC has permanently banned Daniel Peter Logan from providing financial services, after finding that he engaged in dishonest conduct and failed to comply with a financial services law.

Daniel Peter Logan, 37, formerly of Brisbane was a financial planner with Anne Street Partners Financial Services Pty Ltd (ASP) between October 2012 and October 2015.

ASIC found that between March 2013 and October 2015, Mr Logan:

  • created false documents to entice an acquaintance to invest money through him;
  • used funds given to him for the purpose of investing, for his personal use;
  • created false documents to perpetuate the belief that those funds had been invested on behalf of his acquaintance; and
  • only admitted to this misconduct upon discovery of his wrongdoing.

ASIC determined that Mr Logan’s conduct was not a lapse of judgement, but rather he engaged in deliberate and repeated acts to perpetuate the dishonesty, displaying a lack of integrity and professionalism.

ASIC Deputy Chairman Peter Kell said, ‘Mr Logan’s wrongoing was very serious. His actions were not limited to an isolated incident, but were designed to deceive over a period of time and conceal his initial wrongdoing. ASIC will ensure financial advisers, who behave dishonestly are removed from the financial services industry.’

Mr Logan’s acquaintance was not a client of ASP.

Mr Logan has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.

Source: ASIC

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