Regulatory Alerts2025-08-18
ASIC bans former Next Generation Advice adviser Andrew Rankin for four years
ASIC has banned former Next Generation Advice adviser Andrew Rankin from providing financial services for four years due to his failure to act in clients' best interests and providing inappropriate advice. The regulator found that Rankin directed clients to invest heavily in speculative, illiquid funds while failing to identify their needs or conduct reasonable investigations, resulting in misleading statements and significant fee increases. The ban took effect on 14 August 2025, and affected clients are urged to lodge complaints with AFCA by 17 October 2025.
Share