Liability Insurance Australia News
NSW Adviser Convicted
Source: IFA: 18 Dec 2021
ASIC has convicetd a former Financial Adviser of managing a corporation while disqualified in a NSW court earlier this week.
Already banned permanently from providing financial services ... and previously subject to a 25 year disqualification from managing corporations, Melinda Scott, was conditionally released on a two-year bond with a $1,000 recognisance after appearing in Downing Centre Local Court.
It was alleged by ASIC that Ms Scott incorporated Driven By Results and acted as sole director, shareholder and employer between August 2019 and about February 2021, .
ASIC alleges that Ms Scott opened and operated three bank accounts under Driven By Results as the sole signatory and conducted business as a chauffeur driver.
Managing a corporation while disqualified carries a penalty of up to five years imprisonment and/or a fine of 600 penalty units.
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A very broad term for insurance covering liability exposures for individuals and business owners. It provides broad coverage, generally including all exposures for property damage and bodily injury.