ASIC has banned financial adviser John Hazell from providing financial services for a period of two years.
Mr Hazell was an authorised representative of Richmond Partners Pty Ltd from 1 March 2018 to 16 May 2024.
Mr Hazell was registered with the Tax Practitioners Board (TPB) as a tax (financial) adviser on 15 June 2015 until his registration was terminated by the Board effective 8 March 2023 for ceasing to meet registration requirements.
In his dealings with the TPB, ASIC identified Mr Hazell had made misleading statements in order to retain his registration, and he continued to provide professional services to retail clients when he was unable to manage his own financial tax affairs and failed to reasonably engage with a professional body when conduct concerns were identified.
As a result of these concerns ASIC found that Mr Hazell is likely to contravene his obligations as a financial adviser and in the interests of consumer protection, imposed a banning period of two years. This will prevent Mr Hazell from providing financial services, performing one or more functions as an officer of an entity that carries on a financial services business and controlling an entity that carries on a financial services business.
Background
The banning of Mr Hazell is part of ASIC's ongoing efforts to improve standards across the financial advice industry. It will be recorded on ASIC's publicly available Financial Advisers Register and the Banned and Disqualified Persons Register.
