Australian watchdog slaps lifetime ban on Macquarie adviser

Pedro Gonçalves
clock • 1 min read

ASIC has permanently banned a former Macquarie Group financial adviser after it found he had engaged in "dishonest" and "misleading" conduct. The Warren Scott Acworth was working with Macquarie between December 2015 and May 2018, where he undertook trading on behalf of a client with MINI warrants, a form of derivatives that derived value from another asset. Acworth misrepresented to his client the value of the client's portfolio on 19 separate occasions, engaged in trading without the proper authority of the client, and transferred A$185,000 between the client's accounts without autho...

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