CORPORATIONS LAW – banning order – failure to comply with a financial services law – failure to have reasonable basis for financial advice – failure to disclose information about remuneration – false or misleading statements in respect of financial products – misleading or deceptive conduct in respect of a financial product or service

CORPORATIONS LAW – banning order – length of banning order – no findings of fraud or dishonesty – contraventions serious and caused loss – applicant’s lack of insight into gravity of breaches – seven year banning order affirmed

PRACTICE AND PROCEDURE – government policy – ASIC Regulatory Guide – whether Tribunal must apply policy unless policy unlawful or there are cogent reasons to the contrary – Tribunal not precluded from giving no weight to policy in a particular case – policy found to be sensible and calibrated – policy applied by Tribunal