Renewed calls for a last resort compensation scheme to cover customers when their adviser's firm ceases to exist
SR Group is standing firmly with Professor Ramsay's review for the federal government recommending the establishment of a compensation scheme of last resort for victims of poor financial advice. With the Royal commission dedicating public hearings to financial advice and Dover showcased it is an area needing the most immediate attention of last resort compensation. Time for reform.
Next step: award compensation to the investors she defrauded!A WA businesswoman under investigation for masterminding a suspected $180 million “Ponzi” scheme, in which Malaysian and Singaporean investors were courted to invest in Pilbara property, has been permanently banned from providing financial services.
Australia’s corporate watchdog, the Australian Securities and Investments Commission (ASIC), has found Veronica Macpherson engaged in “misleading” and “deceptive” conduct while promoting the Newman Estate Project in Western Australia’s Pilbara to overseas investors.
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