As the first quarter of 2024 comes to a close, Money Management looks at the corporate regulator’s bans and AFSL cancellations in the financial advice sector.
Several directors of Linchpin Capital Group and Endeavour Securities, both of which are now in liquidation, were slapped with a combined $390,000 penalty by the Federal Court for breaching their duties.
Four directors of Endeavour Securities and Linchpin Capital Group have been penalised by the Federal Court for multiple failings on a registered managed investment scheme, with one individual rapped for his ‘lack of remorse or contrition’.