ASIC bans insurance broker
The Australian Securities and Investments Commission (ASIC) has permanently banned a Victorian broker from providing financial services.
Burwood man Mark William Clough has been banned following an ASIC investigation into his dealings when he operated insurance consultancy business Muir Sturrock.
The regulator found Mr Clough engaged in dishonest conduct between August 2000 and July 2005, using $43,500 meant for a client’s income protection policies for his own personal use.
He also breached the law after carrying on a financial services business while not holding an Australian financial services licence.
Mr Clough has the right to appeal the decision.
More articles like this
- Government proposes director liability changes »
- Dam revelations extend inquiry »
- Unfair terms laws may include in insurance contracts »
- Motor theft body welcomes property register »
- Extension for group purchasing class order »
- APRA still interested in mutual fund returns »
- APRA revamps GI reporting bulletins »
Latest Jobs
Self-employed brokerage opportunity without the need for a capital investment
1 February 2012
Consolidated Insurances offers a training and career opportunity to develop your own client register with the view to becoming a fully-fledged self-employed insurance broking business within a structure superior to any existing franchise agreement.
Manager, Sales and Relationships/ Business Development Manager
27 January 2012
Innovative market leader I Strong culture I Be responsible for the Sunshine Coast - Gold Coast region I Attractive Package (including salary sacrifice vehicle) I Tools of trade include smart phone and laptop
Public Liability Litigated Claims Officer
24 January 2012
Are you an expert in managing public liability claims, and want to move out of private practice? 12 month contract opportunity for you to get your foot in the door of a successful Australian business.
Business Development Manager, WA
20 January 2012
An exciting opportunity exists for an experienced BDM to join our friendly and supportive organisation that really makes a difference in the community. Position has arisen due to an internal promotion. Great team environment!
Data Entry
18 January 2012
An underwriting agency is seeking an experienced WinBEAT Processor/Administrator to join their small but busy team.
Business Development Officer
17 January 2012
The Business Development Officer is responsible for growing MIGA's Queensland business through the development and implementation of marketing and promotional initiatives, the identification of sales opportunities and implementation of sales strategies.
This week's most popular
- Steve Lardner set to retire »
- QBE performance wobbles »
- Losses continue to grow at Calliden »
- Insurers gouging, says Bligh »
- Club Marine CEO injured in road crash »
- Lumley appoints new distribution head »
- Industry defends strata insurance pricing »
- Suncorp sees big opportunities in AMP deal »
- Disasters bite into Wesfarmers’ insurance profit »
- General insurers in good shape despite disasters »
