Falsified financial adviser exam result ends in permanent banning
A former financial adviser who falsified his financial adviser exam result has been permanently banned by the Australian Securities and Investments Commission (ASIC).
The regulatory said that the man, Todd Karamian, of Sydney, had been permanently banned from providing financial services and carrying on a financial services business.
ASIC said it found that in December 2021, Karamian altered his Financial Adviser Certificate from a fail result to a pass result and sent the altered certificate to his licensee, Bluepoint Consulting which then provided it to ASIC.
ASIC also found that Karamian provided personal advice between 31 December 2021 to September 2022 to 11 retail clients when he was not authorised to do so as he had failed the Financial Adviser exam.
ASIC said the ASIC delegate found that Karamian was not competent and not a fit and proper person to provide financial services.
Sounds like he was too dumb to be a planner, always going to be found out.
Speaking of dumb, when is the equivalent ‘Ethics & Required Knowledge’ test being rolled out for politicians and ASIC employees?
Ah yeah, that’s right….
I passed the FARCE exam on the first go and it is a STOOOOPID test.
Albert Einstein – If You Judge a Fish by Its Ability to Climb a Tree, It Will Live Its Whole Life Believing that It is Stupid
Ever heard of an exam where there is no right of appeal or any transparency.
Plus let us set the exam.
It’s not his fault. It’s the system!
While I have some empathy for this guy it is 100% his fault. The system did not make him commit fraud
Must be a Sovereign Citizen