ASIC has banned adviser Craig Dangar from providing financial services for 10 years after failing to disclose to clients his interest in two companies.
The decision follows and investigation by the corporate regulator into Danger's conduct while employed at S.M.S.F Consultants from January 2004 to September 2007.
While at the firm, Dangar recommended investments in Morris Finance and NSW Finance & Leasing to self managed superannuation fund clients.
Dangar was a director and shareholder of both companies however, he failed to disclose these interests to his clients and in some instances did not provide them with product disclosure statements or statements of advice.
NSW F&L was placed under administration in December 2008.
ASIC's investigation also found Danger engaged in conduct that was considered misleading or deceptive or was likely to mislead or deceive in relation to statements made in various disclosure documents he gave to his clients, according to an ASIC statement.
Danger has previously worked at Count Financial and Charter Financial Planning.
