Mr Joshua David Fuoco of Prahran, Victoria has been banned from providing financial services for five years by ASIC.

This follows an investigation by ASIC into the Dollarforce Group of companies, in particular Elite Equities Limited (Elite) and Mr Fuoco. Between 23 February 2005 and 11 November 2008, Mr Fuoco was an authorised representative of Elite, a financial planning business associated with the Dollarforce Group.

ASIC’s investigation found that between July 2005 and September 2007, Mr Fuoco recommended various financial products offered by companies in the Dollarforce Group to clients of Elite. In some cases Mr Fuoco did not have a reasonable basis for the advice he gave and engaged in misleading and deceptive conduct. Mr Fuoco also provided clients with defective disclosure documents which failed to disclose details of his and Elite’s remuneration and various interests and associations that may have affected the advice he gave.
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A Perth-based financial services provider has been banned from the industry for eight years by the corporate watchdog due to his involvement with collapsed fuel additive firm Firepower.

The Australian Securities and Investments Commission (ASIC) has banned Quentin Ward, of Nedlands, from providing financial services until 2017, ASIC said in a statement on Wednesday.

The ban follows ongoing civil proceedings brought by ASIC against Mr Ward and a company that he was the sole director of, Axis International Management Pty Ltd.
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ASIC has permanently banned Mr Mark William Clough, of Burwood Victoria from providing financial services.

This follows an ASIC investigation into Mr Clough’s dealings when he operated an insurance consultancy business which traded as Muir Sturrock Pty Ltd and Muir Sturrock Consulting.

ASIC found that Mr Clough engaged in dishonest conduct between August 2000 and July 2005 when he received a total of $43,500 from a client to for the purpose of obtaining income protection insurance policies, but instead, retained the funds for his personal use.
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