ASIC v Dover Financial Advisers Pty Ltd – Financial services company and director breached the Corps Act and ASIC act because its ‘Client Protection Policy’ did not give them ‘maximum protection possible’ but in fact purported to strip them of rights

On 22 November 2019, the Federal Court has held that a financial services advice business, contravened the law, by stating in its “Client Protection Policy” that clients received the maximum protection possible under the law – when it in fact stripped them of rights and was false, misleading or deceptive.

See below for a summary of the case.

[Tax Month – November 2019]