Australian watchdog bans Westpac adviser for life

Pedro Gonçalves
clock • 2 min read

A former Westpac financial adviser was permanently banned by ASIC for providing inappropriate advice that placed a number of clients' retirements in jeopardy. ASIC's banning of Subeer Luthra follows a surveillance it did in relation to his conduct when he was an authorised representative of Westpac, according to a statement. Subeer Luthra was banned by ASIC following surveillance that found he dishonestly altered his clients' priorities to suit his own interests. Westpac notified ASIC of Luthra's misconduct.  An ASIC review of Mr Luthra's advice found that he dishonestly recast his...

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