Regulatory Alerts2026-04-10
ASIC bans former financial adviser Rhys Reilly for 10 years and suspends Conexus Group’s AFS licence
The Australian Securities and Investments Commission has issued a 10-year banning order against former financial adviser Rhys Reilly and suspended the Australian financial services licence of Conexus Group until July 2026. These actions address serious misconduct including accepting undisclosed conflicted remuneration, making false statements, and recommending unsuitable investments in the Shield and First Guardian funds. The regulatory measures aim to protect consumers and deter similar conduct while allowing Conexus to sever ties with Reilly and update its licensing arrangements.
Share