NSW financial adviser Adele Baaini permanently banned from credit and financial services industries

ASIC has permanently banned NSW based financial adviser Adele Baaini from providing any financial services, controlling an entity that carries a financial services business, performing a function involved in the carrying on of a financial business or from engaging in credit activities.

ASIC found Ms Baaini engaged in dishonest conduct and failed to act with integrity and sound judgment in relation to a financial service.

ASIC observed that Ms Baaini is not a fit and proper person to provide financial services when she:

provided Australian financial services licensee, AAN Wealth Management Pty Ltd (AAN Wealth) with a falsified Financial Adviser Exam certificate; and
provided personal advice to 121 clients in circumstances where she knew that she did not meet the prescribed education and training standard.
ASIC further found that Ms Baaini is not adequately trained or competent to provide financial services and is likely to contravene credit legislation and financial services legislation.

Ms Baaini’s banning has been recorded on ASIC’s banned and disqualified register.

Ms Baaini has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.

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