Regulatory Alerts2026-05-12
Registration prohibition order against former UGC financial adviser Stephen Rogers increased to three years following review
The Administrative Review Tribunal increased the registration prohibition against former United Global Capital financial adviser Stephen Rogers from two to three years following a review of the Financial Services and Credit Panel's original decision. The order prohibits Mr Rogers from being registered with ASIC or providing personal advice to retail clients on relevant financial products until 27 November 2028 due to misleading advice and non-compliant practices regarding self-managed superannuation funds. ASIC highlighted these breaches as part of its priority to deter cold calling superannuation switching models and warned impacted clients to lodge complaints with the Australian Financial Complaints Authority.
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