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Former Australian Unity financial adviser banned for five years
ASIC has banned Christopher Chan, a former authorised representative of Australian Unity Personal Financial Services Limited, from providing financial services for five years.
The banning follows an ASIC surveillance, which found that Mr Chan sent misleading and deceptive emails about superannuation to some clients in 2016. ASIC found that in doing so, Mr Chan contravened section 1041H of the Corporations Act.
ASIC’s review of Mr Chan’s emails found that he advised clients to opt out of MySuper, claiming that the MySuper product had higher fees than the fee on their existing superannuation balances. However, this information was not correct for every client. Subsequent to Mr Chan sending the emails to clients, some members did not fully transition to MySuper and continued paying higher fees as a result. ....

Christopher Chan , Infocus Securities Australia Pty Ltd , Australian Unity Personal Financial Services , Administrative Appeals Tribunal , Financial Advisers Register , Disqualified Persons , Stronger Super , Unity Personal Financial Services Limited , Securities Australia Pty Ltd , Australian Securities And Investments Commission , Financial Advisers Register , Financial Services , கிறிஸ்டோபர் சான் , கவனத்துடன் பத்திரங்கள் ஆஸ்திரேலியா ப்டி லிமிடெட் , வலுவான அருமை ,