The Australian Securities and Investments Commission (ASIC) has banned Christine Betty Childs, of Sunshine Coast, Queensland, from providing financial services for eight years.
ASIC banned Mrs Childs, former director of Think Money and Think Money Wealth Through Property, for carrying on an unlicensed financial services business in recommending clients to buy property through their superannuation, including that they rollover their existing superannuation into self-managed superannuation funds. This conduct misled or deceived Mrs Child’s clients who reasonably assumed that she was appropriately licensed to give them such advice.
In addition to the unlicensed conduct, ASIC found that Mrs Childs was involved in Think Money’s failure to give effect to an Australian Financial Complaints Authority determination to pay compensation to one of Think Money’s clients. ASIC…