The Australian Securities and Investments Commission (ASIC) has banned Joel James Hewish for 10 years from providing financial services, performing any function involved in carrying on of a financial services business and controlling an entity that carries on a financial services business.
ASIC has also cancelled the Australian financial services (AFS) licence of Mr Hewish’s company, United Global Capital Pty Ltd (UGC).
ASIC found that UGC’s authorised representatives contacted prospective clients and recommended they establish a self-managed superannuation fund (SMSF), rollover their existing superannuation into the SMSF and invest it in highly speculative investments related to Mr Hewish.
UGC’s AFS licence was cancelled based on ASIC’s findings that UGC:
- used…
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