The Australian Securities and Investments Commission (ASIC), the country's financial regulator, has banned Hobart-based financial planner Matthew Geappen from providing financial services for a period of five years. ASIC's concerns related to Geappen's practice of advising his clients to switch from one insurance product to another which allowed him to generate commissions from insurance providers. ASIC's investigation found that Geappen failed to act in the best interests of his client...
